Pioneer Natural Resources Co. (NYSE: PXD) has priced a public offering of its common stock at $117 per share. The size of the offering has been upsized from 10.5 million shares to 12 million shares. Pioneer will receive total gross proceeds (before underwriters’ discounts and commissions and estimated expenses) of $1.4 billion.
The company has also granted the underwriters an option for 30 days to purchase up to an additional 1.8 million shares of its common stock. The offering is expected to close on or about Jan. 11.
BofA Merrill Lynch, Citigroup, Credit Suisse, and JP Morgan are acting as joint book-running managers on the offering.