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

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

Business Wire

DALLAS -- April 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.

Contact:

Pioneer Natural Resources
Investors:
Frank Hopkins, 972-969-4065
or
Josh Jones, 972-969-5822
or
Media and Public Affairs:
Susan Spratlen, 972-969-4018
or
Suzanne Hicks, 972-969-4020
 
Press spacebar to pause and continue. Press esc to stop.