Pioneer Natural Resources Announces Closing of Sale of Alaska Subsidiary to Caelus Energy Alaska

Pioneer Natural Resources Company PXD (“Pioneer” or “the Company”) today announced that the Company closed its previously announced sale of its Alaska subsidiary to Caelus Energy Alaska LLC for cash proceeds of $300 million, subject to normal closing adjustments, plus other consideration. The Company expects to recognize a noncash loss of approximately $30 million associated with the sale when it reports earnings for the first quarter of 2014.

Pioneer Natural Resources Company is a large independent oil and gas exploration and production company, headquartered in Dallas, Texas, with operations in the United States. For more information, visit Pioneer's website at www.pxd.com.