Pioneer Increases Share Repurchase Program

The board of Pioneer Natural Resources Co. has approved a $450 million increase in its existing share repurchase program, which now authorizes the purchase of up to $750 million of its common stock.

Since acquiring Evergreen Resources in 2004, Pioneer has repurchased approximately 31 million shares which represents approximately 21% of the shares then outstanding, including 650,000 shares repurchased during the first quarter of 2007 at an average price of approximately $38.00 per share. The increased share repurchase program provides for further reduction in outstanding shares.

Pioneer is a large independent oil and gas exploration and production company, headquartered in Dallas, Texas, with operations in the United States, Canada, South Africa and Tunisia.


Our Privacy Pledge

Most Popular Articles

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours