-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, BsA5QY0mqOm4Kd5y6kuYvNXF51ADFsIP0Wja+gjS5AvrVaIHog4A2doDA92ur3wP hrwBu/KtQ3hprPf8dZhd7g== 0001038357-05-000144.txt : 20050611 0001038357-05-000144.hdr.sgml : 20050611 20050602165006 ACCESSION NUMBER: 0001038357-05-000144 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050601 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050602 DATE AS OF CHANGE: 20050602 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PIONEER NATURAL RESOURCES CO CENTRAL INDEX KEY: 0001038357 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 752702753 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13245 FILM NUMBER: 05874662 BUSINESS ADDRESS: STREET 1: 900 WILLIAMS SQUARE WEST STREET 2: 5205 N OCONNOR BLVD CITY: IRVING STATE: TX ZIP: 75039 BUSINESS PHONE: 9724449001 MAIL ADDRESS: STREET 1: 900 WILLIAMS SQUARE WEST STREET 2: 5205 N OCONNOR BLVD CITY: IRVING STATE: TX ZIP: 75039 8-K 1 jun018k.txt PIONEER 6/1/05 FORM 8-K CANADA UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 1, 2005 Pioneer Natural Resources Company ------------------------------------------------------ (Exact name of Registrant as specified in its charter) Delaware 1-13245 75-2702753 - ---------------------------- ------------ ------------------- (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 5205 N. O'Connor Blvd., Suite 900, Irving, Texas 75039 - ------------------------------------------------ ---------- (Address of principal executive offices) (Zip Code) (972) 444-9001 ---------------------------------------------------- (Registrant's telephone number, including area code) Not applicable ------------------------------------------------------------- (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) PIONEER NATURAL RESOURCES COMPANY TABLE OF CONTENTS Page Item 7.01. Regulation FD Disclosure........................... 3 Item 9.01. Financial Statements and Exhibits (c) Exhibits..................................... 3 Signature...................................................... 4 Exhibit Index.................................................. 5 2 PIONEER NATURAL RESOURCES COMPANY Item 7.01. Regulation FD Disclosure On June 1, 2005, Pioneer Natural Resources Company (the "Company") issued a news release that is attached hereto as exhibit 99.1. In the news release, the Company announced that its Canadian subsidiary has closed the sale of its Martin Creek, Conroy Black and Lookout Butte oil and gas properties for proceeds after closing adjustments of approximately $199 million. The Company also announced that it expects to recognize an after-tax gain associated with the Canadian asset sale of approximately $75 million to $80 million based on its intent to create a repatriation plan that qualifies for the provisions of the American Jobs Creation Act of 2004. In accordance with the provisions of Statement of Financial Accounting Standards No. 144, "Accounting for the Impairment or Disposal of Long-Lived Assets," the Company will report the results of operations of the Canadian properties sold, including the gain on disposition, as discontinued operations in its second quarter results. Item 9.01. Financial Statements and Exhibits (c) Exhibits 99.1 News Release dated June 1, 2005. 3 PIONEER NATURAL RESOURCES COMPANY S I G N A T U R E Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PIONEER NATURAL RESOURCES COMPANY Date: June 2, 2005 By: /s/ Darin G. Holderness ------------------------------------------- Darin G. Holderness Vice President and Chief Accounting Officer 4 PIONEER NATURAL RESOURCES COMPANY EXHIBIT INDEX Exhibit No. Description - ----------- ----------- 99.1(a) News Release dated June 1, 2005. - ------------- (a) filed herewith 5 EX-99 2 jun018kx99.txt PIONEER 6/1/05 FORM 8-K EXH. 99.1 CANADA EXHIBIT 99.1 NEWS RELEASE Company Contacts: Investors: Frank Hopkins or Chris Paulsen Media and Public Affairs: Susan Spratlen (972) 444-9001 Pioneer Closes Sale of Non-Strategic Canadian Properties Dallas, Texas, June 1, 2005 -- Pioneer Natural Resources Company (NYSE:PXD) today announced that its Canadian subsidiary has closed the sale of its Martin Creek, Conroy Black and Lookout Butte oil and gas properties to Ketch Resources Ltd. (TSE:KER.UN) for proceeds after closing adjustments of approximately $199 million. Pioneer expects to recognize an after-tax gain associated with the Canadian asset sale of approximately $75 to $80 million based on the Company's intent to create a repatriation plan that qualifies for the provisions of the American Jobs Creation Act of 2004. In accordance with the provisions of Statement of Financial Accounting Standards No. 144, "Accounting for the Impairment or Disposal of Long-Lived Assets," Pioneer will report the results of operations of the Canadian properties sold, including the gain on disposition, as discontinued operations in its second quarter results. Pioneer retained its core areas in Canada, the Chinchaga gas and the Horseshoe Canyon coalbed gas fields. At Chinchaga, the Company drilled 56 wells during its winter drilling campaign and has an extensive inventory of locations remaining to drill in future years. Beginning in June, Pioneer plans to drill a minimum of 80 wells to assess the potential of its extensive Horseshoe Canyon coalbed acreage position. Pioneer is a large independent oil and gas exploration and production company with operations in the United States, Argentina, Canada, Equatorial Guinea, Nigeria, South Africa and Tunisia. Pioneer's headquarters are in Dallas. For more information, visit Pioneer's website at www.pioneernrc.com. Except for historical information contained herein, the statements in this News Release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward- looking statements and the business prospects of Pioneer are subject to a number of risks and uncertainties that may cause Pioneer's actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things, volatility of oil and gas prices, product supply and demand, competition, government regulation or action, international operations and associated international political and economic instability, litigation, the costs and results of drilling and operations, Pioneer's ability to replace reserves, implement its business plans, or complete its development projects as scheduled, access to and cost of capital, uncertainties about estimates of reserves, quality of technical data, environmental and weather risks, acts of war or terrorism. These and other risks are described in Pioneer's 10-K and 10-Q Reports and other filings with the Securities and Exchange Commission. -----END PRIVACY-ENHANCED MESSAGE-----