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Pioneer To Sell Tunisia Subsidiaries To OMV For $866MM

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January 6, 2011

Pioneer Natural Resources Company (NYSE:PXD) today announced that the Company has entered into a purchase and sale agreement with a wholly-owned subsidiary of OMV AG to sell all of the stock of Pioneer's Tunisia subsidiaries for cash proceeds of $866 million, subject to normal closing adjustments.

"I want to personally thank all of our London and ...

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