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TheStreet Open House

Pioneer Natural Resources Company Announces Closing Of Common Stock Offering

Pioneer Natural Resources Company (NYSE:PXD) (“Pioneer” or “the Company”) today announced the closing of the previously announced public offering of 10,350,000 shares of the Company’s common stock (which includes 1.35 million shares resulting from the underwriters’ exercise of their option to purchase additional shares) at a price to the public of $128.00 per share. Pioneer received total gross proceeds (before underwriters’ discounts and commissions and estimated expenses) of $1.32 billion from the entire transaction.

Pioneer expects to use the net proceeds from this offering for general corporate purposes, including the acceleration of horizontal appraisal drilling in the northern portion of the Company’s highly prospective Wolfcamp/Spraberry acreage position in West Texas. Pending such use, a portion of the net proceeds will be used to repay the outstanding borrowings under the Company’s credit facility, with the remaining proceeds to be invested in money-market funds or U.S. treasuries.

Citigroup, Goldman, Sachs & Co., J.P. Morgan and RBC Capital Markets acted as joint book-running managers for the offering. A copy of the final prospectus supplement and prospectus relating to the offering may be obtained from the following addresses:

    (i)    

Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, NY 11717; by email at batprospectusdept@citi.com; or Toll-Free: (800) 831-9146, or

(ii)

Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282; by email at prospectus-ny@ny.email.gs.com; or (866) 471-2526, or

(iii) J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, NY 11717; or Toll-Free: (866) 803-9204, or
(iv) RBC Capital Markets, Attention: Equity Syndicate, Three World Financial Center, 200 Vesey Street, 8th Floor, New York, NY 10281-8098; or (877) 822-4089.

You may also obtain these documents at no cost under EDGAR on the SEC web site at www.sec.gov.

This news release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

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