http://www.businesswire.com/news/home/20091111005578/en
DALLAS--(Business Wire)--
Pioneer Southwest Energy Partners L.P. ("Pioneer Southwest" or "the
Partnership") (NYSE:PSE) today announced that it has priced a public offering of
2,700,000 common units representing limited partner interests at a price to the
public of $20.74 per unit. Net proceeds from the offering, which are estimated
to be $53 million, will be used by Pioneer Southwest to repay amounts
outstanding under its revolving credit facility. The offering is scheduled to
close November 16, 2009. Pioneer Southwest also granted the underwriters a
30-day option to purchase up to an aggregate of 405,000 additional common units.
UBS Investment Bank, Citi, BofA Merrill Lynch and Wells Fargo Securities are
acting as joint book-running managers and J.P. Morgan and RBC Capital Markets
are acting as co-managers. A copy of the prospectus supplement and prospectus
relating to the offering may be obtained from the following addresses:
UBS Investment Bank Citi BofA Merrill Lynch Wells Fargo Securities
Attn: Prospectus Dept. Attn: Prospectus Dept. Attn: Preliminary Prospectus Dept. Attn: Equity Syndicate Dept.
299 Park Avenue Brooklyn Army Terminal 4 World Financial Center 375 Park Avenue
New York, NY 10171 140 58th Street, 8th Floor New York, NY 10080 New York, NY 10152
Telephone: 888-827-7275 Brooklyn, NY 11220 Prospectus_Requests@ml.com equity.syndicate@wachovia.com
batprospectusdept@citi.com Telephone: 800-326-5897
Telephone: 800-831-9146
You may also obtain these documents for free when they are available by visiting
EDGAR on the SEC web site at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy the securities described herein, nor shall there be any sale of
these securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction. The offering may be made
only by means of a prospectus and related prospectus supplement meeting the
requirements of Section 10 of the Securities Act of 1933, as amended. The
offering will be made pursuant to an effective shelf registration statement and
prospectus filed by Pioneer Southwest with the SEC.
Pioneer Southwest is a Delaware limited partnership headquartered in Dallas.
Pioneer Natural Resources formed Pioneer Southwest to own and acquire oil and
gas assets in its area of operations. This area includes onshore Texas and eight
counties in the southeast region of New Mexico. For more information, visit
Pioneer Southwest`s website at www.pioneersouthwest.com.
Statements about the offering may be forward-looking statements as defined under
federal law. These forward-looking statements rely on a number of assumptions
concerning future events and are subject to a number of uncertainties and
factors, many of which are outside the control of Pioneer Southwest, and a
variety of risks that could cause results to differ materially from those
expected by management of Pioneer Southwest.These and other risks are described
in Pioneer Southwest's 10-K and 10-Q Reports and other filings with the
Securities and Exchange Commission. Pioneer Southwest undertakes no duty to
publicly update these statements except as required by law.
Pioneer Southwest Energy Partners L.P.
Investors
Frank Hopkins, 972-969-4065
or
Nolan Badders, 972-969-3955
or
Media and Public Affairs
Susan Spratlen, 972-969-4018
or
Suzanne Hicks, 972-969-4020
Copyright Business Wire 2009
