Spraberry field (W. TX) landscape at sunrise, showing the full production cycle from drilling to pumping to storage (2007)

On December 17, 2013, Pioneer Southwest Energy Partners L.P. ("Pioneer Southwest") merged with a wholly-owned subsidiary of Pioneer Natural Resources Company ("Pioneer"). Under the merger agreement, each Pioneer Southwest unitholder eligible to receive the merger consideration became entitled to 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. Shares of Pioneer’s common stock trade on the New York Stock Exchange under the ticker symbol "PXD." Pioneer Southwest’s common units traded on the New York Stock Exchange under the ticker symbol "PSE" until the close of business on December 17, 2013.

Pioneer has appointed Continental Stock Transfer & Trust Company ("Continental") to act as exchange agent for the purpose of exchanging Pioneer Southwest common units for Pioneer common stock pursuant to the merger. Any questions regarding the exchange of Pioneer Southwest common units for Pioneer common stock should be directed to Continental at (917) 262-2378.


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