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News Breaks
March 4, 2013
17:29 EDTPXDFitch upgrades Pioneer Natural to 'BBB-', outlook revised to Stable
Fitch Ratings has upgraded the ratings on Pioneer Natural Resources to 'BBB-' from 'BB+'. The rating outlook is Stable. Pioneer's ratings and Stable outlook are supported by the company's long-lived onshore reserve base, consistent production growth, and valuable leasehold acreage positions in key oil and liquids basins, the Permian and the Eagle Ford. Concerns include relatively high leverage for an investment grade exploration and production company, high capex investment required to fund growth, and the risk of a macroeconomic scenario that involves materially and persistently lower oil prices in the long run.
News For PXD From The Last 14 Days
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September 24, 2014
09:08 EDTPXDPioneer Natural announces closing of Barnett Shale assets sale
Pioneer Natural announced that the company closed the previously announced sale of its Barnett Shale assets in North Texas to an undisclosed private party for cash proceeds of $155M, subject to normal closing adjustments. The transaction has an effective date of August 1. The financial and operating results related to Pioneer’s Barnett Shale activities have been reflected as discontinued operations since 4Q13 when Pioneer announced that it planned to sell these assets. Net production from the Barnett Shale averaged approximately 10,300 barrels oil equivalent per day during the first six months of 2014, consisting of oil, natural gas liquids and gas.

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