Deal Details
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.
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- Date
- February 2013
- Company
- Pioneer Natural Resources Company
- Transaction
- M&A
- Sectors
- Energy
- Target Geography
- North America
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