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Pioneer Natural Resources announces closing of sale of Alaska subsidiary to Caelus Energy Alaska

Wednesday, April 16, 2014
  • The Company expects to recognize a noncash loss of approximately $30 million associated with the sale when it reports earnings for the first quarter of 2014.

Pioneer Natural Resources Company (NYSE:PXD) announced that the Company closed its previously announced sale of its Alaska subsidiary to Caelus Energy Alaska LLC for cash proceeds of $300 million, subject to normal closing adjustments, plus other consideration. The Company expects to recognize a noncash loss of approximately $30 million associated with the sale when it reports earnings for the first quarter of 2014.

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

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