Pioneer Natural Resources Company reported that the Company closed its previously announced sale of its South Africa business to The Petroleum Oil and Gas Corporation of South Africa (SOC) Ltd. (PetroSA) for net consideration of $52 million.

The transaction was effective January 1, 2012. Since that date, Pioneer has received cash of $37.5 million from ongoing operations. The remaining cash proceeds from the sale of $14.5 million were received at closing.

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