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Pioneer Natural Resources Announces Closing of Sale of Barnett Shale Assets

DALLAS--(BUSINESS WIRE)--Sep. 24, 2014-- Pioneer Natural Resources Company (NYSE:PXD) (“Pioneer” or “the Company”) today announced that the Company closed the previously announced sale of its Barnett Shale assets in North Texas to an undisclosed private party for cash proceeds of $155 million, subject to normal closing adjustments. The transaction has an effective date of August 1, 2014.

The financial and operating results related to Pioneer’s Barnett Shale activities have been reflected as discontinued operations since the fourth quarter of 2013 when Pioneer announced that it planned to sell these assets. Net production from the Barnett Shale averaged approximately 10,300 barrels oil equivalent per day during the first six months of 2014, consisting of oil, natural gas liquids and gas.

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.

Source: Pioneer Natural Resources Company

Pioneer Natural Resources
Investors:
Frank Hopkins, 972-969-4065
or
Michael Bandy, 972-969-4513
or
Steven Cobb, 972-969-5679
or
Media and Public Affairs:
Susan Spratlen, 972-969-4018
or
Tadd Owens, 972-969-5760
or
Suzanne Hicks, 972-969-4020

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