Pioneer Natural Resources Company Prices 5.5M Share Offering for Total Gross Proceeds of $489.5M

Pioneer Natural Resources Company

today announced that it has priced a public offering of 5,500,000 shares of its common stock for total gross proceeds (before underwriters' compensation and estimated expenses) of approximately $489.5 million. BofA Merrill Lynch and J.P. Morgan are acting as joint book-running managers and have offered the shares at prevailing market prices or otherwise from time to time through the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise. The Company has granted the underwriters an option for 30 days to purchase up to an additional 825,000 shares of the Company's common stock to cover over-allotments, if any. The offering is expected to close on or about November 14, 2011.