Pioneer Natural Resources Co. - 2016-06-15
Description
Priced a public offering of 5.25 million common shares. Underwriters received a 30-day option to purchase 787,500 additional shares. A portion of the proceeds will fully fund Pioneer’s pending acquisition of oil and gas properties in the Midland Basin. The remaining proceeds will support general corporate purposes including the drilling program on the acreage to be acquired in the Midland Basin, and acreage development in the Spraberry/Wolfcamp play in West Texas. Credit Suisse, J.P. Morgan, Deutsche Bank Securities Inc. and Morgan Stanley are joint book-running managers.