Pioneer Natural Resources Co. (NYSE:PXD) has closed its public offering of common stock priced at US $128 per share.

The size of the offering was upsized from 8 million shares to 9 million. The company also granted the underwriters an option for 30 days to purchase up to an additional 1.35 million shares. Pioneer received total gross proceeds of US $1.32 billion from the entire transaction.

Net proceeds will be used for general corporate purposes, including the acceleration of horizontal appraisal drilling in the northern portion of the company’s Wolfcamp/Spraberry ...