India's Reliance Industries Ltd is seeking a buyer for its stake in the Eagle Ford Basin oil and natural gas joint venture with Pioneer Natural Resources, a sale that could raise up to $4.5 billion, according to people familiar with the matter.
Pioneer, which has about 230,000 acres in the Eagle Ford Basin according to its website, sold a 45% interest in the property to Reliance for $1.2 billion in 2010. The Eagle Ford Basin asset is a three-way joint venture between Mumbai, India-based Reliance; Irving, Texas-based Pioneer, and a division of Mexico's Alpha SAB de CV.