Pioneer Natural Resources announces upsizing and pricing of common stock offering Co announced that it has priced a public offering of its common stock at $128.00 per share. The size of the offering has been upsized from 8 million shares to 9 million shares. Pioneer will receive total gross proceeds (before underwriters' discounts and commissions and estimated expenses) of approximately $1.152 billion. Citigroup, Goldman, Sachs & Co., J.P. Morgan and RBC Capital Markets are joint book-running managers for the offering. Pioneer expects to use the net proceeds from this offering for general corporate purposes, including the acceleration of horizontal appraisal drilling in the northern portion of the Company's highly prospective Wolfcamp/Spraberry acreage position in West Texas. Pending such use, a portion of the net proceeds will be used to repay the outstanding borrowings under the Company's credit facility, with the remaining proceeds to be invested in money-market funds or U.S. treasuries.

Briefing.com is the leading Internet provider of live market analysis for U.S. Stock, U.S. Bond, and world FX market participants.

Read more In play articles