Pioneer Announces Completion of Redemption of Notes

DALLAS--(BUSINESS WIRE)--Pioneer Natural Resources Company (NYSE:PXD) announced that today it has redeemed 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 Notes were redeemed for a price equal to 100% of the principal amount thereof, plus accrued and unpaid interest to, but not including, March 15, 2010. In total, Pioneer paid approximately $6.3 million in connection with the redemption of the Notes.

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 www.pxd.com.