Pioneer Natural Resources Co. (NYSE: PXD) has agreed to sell 5,750,000 shares of its common stock in an underwritten public offering. Citigroup and BofA Merrill Lynch are acting as joint book-running managers and may offer the shares at prevailing market prices or otherwise from time to time through the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise. The offering is expected to close on or about November 10, 2014.

The company expects to use the net proceeds from this offering for general corporate purposes, including continuing to develop its industry-leading position in the Spraberry/Wolfcamp play in West Texas and construction of front-end loaded infrastructure, which is expected to provide significant future cost savings and support for Pioneer’s long-term growth plans in the Spraberry/Wolfcamp play.

The offering is being made pursuant to an effective shelf registration statement. The offering may be made only by means of a prospectus supplement and the accompanying prospectus.

The company is based in Dallas.