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Pioneer Natural Resources Company to Redeem 2.875% Convertible Senior Notes due 2038

DALLAS--(BUSINESS WIRE)--Apr. 15, 2013-- Pioneer Natural Resources Company (NYSE:PXD) (“Pioneer”) has given notice to holders of its 2.875% Convertible Senior Notes due 2038 (CUSIP No. 723787 AH0) (the “Notes”) that it will redeem all of the outstanding Notes on May 16, 2013 (the “Redemption Date”) at a redemption price equal to 100% of the aggregate principal amount of the Notes and accrued, but unpaid interest, if any, to, but excluding, the Redemption Date.

In lieu of surrendering Notes for redemption, Note holders may elect to convert the Notes at any time before 5:00 p.m., New York City time, on May 15, 2013, which is the business day prior to the Redemption Date. Holders who wish to convert their Notes must comply with the procedures set forth in the agreements governing the Notes and surrender their Notes to Wells Fargo Bank, National Association, as conversion agent, through the facilities of The Depository Trust Company.

As of April 12, 2013, Notes in an aggregate principal amount of $198 million were outstanding, excluding an aggregate principal amount of $20 million of Notes for which the holders have delivered elections to convert their Notes and which are pending settlement.

The notice to Note holders specifying the terms, conditions and procedures to redeem the Notes is available through The Depository Trust Company and Wells Fargo Bank, National Association, as paying agent, at: Wells Fargo Bank, National Association, Corporate Trust Operations, MAC N9303-121, 6th and Marquette Avenue, Minneapolis, MN 55479; phone: (800) 344-5128; fax: (612) 667-6282.

This news release is for informational purposes only and is not an offer to purchase, or the solicitation of an offer to purchase, the Notes.

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

Source: Pioneer Natural Resources Company

Pioneer Natural Resources
Frank Hopkins, 972-969-4065
Josh Jones, 972-969-5822
Media and Public Affairs:
Susan Spratlen, 972-969-4018
Suzanne Hicks, 972-969-4020

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