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|Pioneer Announces Redemption of Notes|
|DALLAS, Jan 21, 2010 (BUSINESS WIRE) -- Pioneer Natural Resources Company (NYSE:PXD) today announced that it will redeem for cash all of its outstanding 5.875% Senior Notes due 2012 originally issued as 5.875% Senior Subordinated Notes due 2012 by Evergreen Resources, Inc. (the "Notes"). The redemption date of the Notes will be March 15, 2010. The redemption price for the Notes will be 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but not including, the date of redemption.
The Notes were originally issued on March 10, 2004 by Evergreen Resources, Inc., and approximately $6.1 million of aggregate principal amount remain outstanding.
On and after the date of redemption, the Notes will no longer be deemed outstanding, interest will cease to accrue thereon and all rights of the holder of the Notes will cease to exist, except for the right to receive the redemption price, without interest thereon.
The notice of redemption will be sent to registered holders of the Notes on or aboutJanuary 21, 2010. Notes are to be surrendered to U.S. Bank National Association, as trustee and paying agent, in exchange for payment of the redemption price. Questions relating to, and requests for additional copies of, the notice of redemption should be directed to U.S. Bank Corporate Trust Services at 14241 Dallas Parkway, Suite 490, Dallas, Texas 75254, Attn: Israel Lugo, (972) 458-4505.
Pioneer is a large independent oil and gas exploration and production company, headquartered in Dallas, Texas, with operations primarily in the United States. For more information, visit Pioneer's website at http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.pioneernrc.com&esheet=6150583&lan=en_US&anchor=www.pxd.com&index=1&md5=8f51d4e607a3014c54105e4d50e66908.
SOURCE: Pioneer Natural Resources Company
Pioneer Natural Resources
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