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Stock Market & Financial Investment News

News Breaks
December 17, 2013
11:41 EDTPSE, PXDPioneer Natural completes merger of Pioneer Southwest
Pioneer Natural Resources (PXD) and Pioneer Southwest Energy Partners (PSE) jointly announced the completion of the merger of Pioneer Southwest with a unit Pioneer, with Pioneer Southwest surviving the merger as an indirect wholly-owned subsidiary of Pioneer. Under the merger agreement, each Pioneer Southwest unitholder eligible to receive the merger consideration will receive 0.2325 of a share of Pioneer common stock for each Pioneer Southwest common unit owned by such unitholder, plus, after aggregating all fractions of shares to which such unitholder would be entitled, a whole share of Pioneer common stock in lieu of any fractional share of Pioneer common stock otherwise issuable to such unitholder in the merger. As a result of the completion of the merger, common units of Pioneer Southwest will cease trading at the close of business. Shares of Pioneer common stock will continue to be traded on the New York Stock Exchange under the ticker symbol “PXD.” The consolidation of the properties of Pioneer and Pioneer Southwest in the Midland Basin in West Texas pursuant to the merger is expected to facilitate Pioneer’s plans to develop the area utilizing horizontal drilling.
News For PXD;PSE From The Last 14 Days
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July 22, 2015
08:37 EDTPXDPioneer Natural affirms FY15 production growth forecast of at least 10%
Pioneer is maintaining its full-year 2015 production growth forecast at 10%+. Although production growth in the Eagle Ford Shale is now forecasted to be nominal in 2015, production from the Spraberry/Wolfcamp is forecasted to grow by 22%-24% in 2015 compared to the 20%+ previously forecasted. The reduction in the Eagle Ford Shale growth rate is primarily due to the delays in placing wells on production and performance issues during the first half of 2015, while the increase in the Spraberry/Wolfcamp growth rate reflects the continuing strong performance of the horizontal drilling program, especially in Pioneer’s northern acreage.
08:36 EDTPXDPioneer Natural Resources reports 197,000 BOEPD in Q2
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06:28 EDTPXDPioneer Natural coverage assumed with an Outperform at Credit Suisse
Target $186.

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