Pioneer Natural Resources buys back $106.9 million notes in December

By Angela McDaniels

Tacoma, Wash., Feb. 25 - Pioneer Natural Resources Co. repurchased $106.9 million of outstanding notes during December, according to its 10-K filing for 2008 filed with the Securities and Exchange Commission.

Specifically, the company repurchased $20 million of its $500 million 2.875% senior convertible notes due 2038, $71.5 million of its $526.9 million 5 7/8% senior notes due 2016, $14.9 million of its $500 million 6.65% senior notes due 2017 and $500,000 of its $450 million 6 7/8% senior notes due 2018.

The company said it recognized a gain of $23.2 million on the repurchases.

Pioneer is a Dallas-based oil and gas exploration and production company.

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