Follow-On Offering

Energy
Follow-On Offering

Summary

Baird served as a co-manager on this offering.

About

Pioneer Natural Resources Company (NYSE:PXD) (“Pioneer” or the “Company”) recently completed a follow-on offering of 10,350,000 common shares at a price of $128.00 per share, generating gross proceeds of approximately $1.325 billion. The Company intends to use the net proceeds from the 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.

Pioneer is a large independent oil and gas exploration and production company with operations in the United States. Pioneer is headquartered in Dallas, Texas.

For additional information about this transaction, please contact:

Curtis Goot (314) 445-6540
Frank Murphy (314) 445-6532
Gary Placek (414) 765-3611
Energy
Follow-On Offering
Date
February 2013
Company
Pioneer Natural Resources Company
Transaction
M&A
Sectors
Energy
Target Location
North America

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