January 13, 2021 | 1 minute read

HOUSTON – Bracewell LLP represented Pioneer Natural Resources, as borrower, in an amended revolving credit facility with Wells Fargo Bank, NA as administrative agent and lead arranger. Among other things, the financing increases the facility size to $2 billion in connection with Pioneer’s acquisition of Parsley Energy, Inc., and extends the maturity to January 2026.

The facility is the first post-COVID syndicated facility in the energy space with a five-year term.

Pioneer is an independent oil and gas exploration and production company. The company engages in onshore oil and gas drilling, exploration and production in the United States.

Bracewell lawyers involved in the transactions included:

Partners: Heather L. Brown and Robin J. Miles

Associates: Kenni E. Callahan