Pioneer Redeems 2012 Senior Notes

Pioneer Natural Resources Company 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. 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.

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