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Pioneer Natural Resources Announces Early Results of Debt Tender Offers
According to information received from
The Tender Offers and the Consent Solicitations were conditioned on the closing of the acquisition of the Issuers by Pioneer pursuant to an Agreement and Plan of Merger (the “Merger Agreement”), by and among Pioneer and certain of its subsidiaries, Parsley Energy, Inc., a
The Tender Offers will expire at
Because the principal amount of Tender Offer Notes tendered prior to the Early Tender Date exceeded a majority of the outstanding Tender Offer Notes of each series, the requisite consents necessary to adopt the proposed amendments with respect to each series of Tender Offer Notes as described in the Offer to Purchase (the “Proposed Amendments”) have been obtained, and Pioneer intends to cause the Issuers to execute a supplement to each of the indentures governing the Tender Offer Notes to effect the Proposed Amendments to such indentures, although the Proposed Amendments therein will not become operative with respect to each series of Tender Offer Notes until Pioneer purchases at least a majority in aggregate principal amount of the outstanding Tender Offer Notes of the applicable series pursuant to the Tender Offers.
This press release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such offer, solicitation, or sale would be unlawful. The offer is being made solely pursuant to the terms and conditions set forth in the Offer to Purchase. None of Pioneer or its affiliates, its board of directors, the Issuers, the dealer managers, the tender agent and the information agent for the Tender Offer Notes or
Pioneer is a large independent oil and gas exploration and production company, headquartered in
Cautionary Statement Regarding Forward-Looking Information
Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements and the business prospects of Pioneer are subject to a number of risks and uncertainties that may cause Pioneer’s actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things, volatility of commodity prices, product supply and demand, the impact of a widespread outbreak of an illness, such as the COVID-19 pandemic, global and
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