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Bracewell Represents Evercore Partners in Merger Between Pioneer Natural Resources Company, Pioneer Southwest Energy Partners L.P.

August 13, 2013

HOUSTON – Bracewell & Giuliani LLP is representing Evercore Partners in a merger between Pioneer Natural Resources Company (Pioneer) and Pioneer Southwest Energy Partners L.P. (Pioneer Southwest).

Evercore Partners is acting as financial advisor to the Conflicts Committee of Pioneer Natural Resources GP LLC, the general partner of Pioneer Southwest, and delivered a fairness opinion to the Conflicts Committee in connection with the merger.

Under terms of the merger, Pioneer Southwest would become a wholly-owned subsidiary of Pioneer’s operating company, Pioneer Natural Resources USA, Inc. (Pioneer USA) through a stock-for-unit exchange. Currently, Pioneer USA owns all of the membership interests in the general partner of Pioneer Southwest and 52.4% of the 35,713,700 outstanding common units of Pioneer Southwest.

Bracewell attorneys involved in this representation are partners Gary W. Orloff and Troy L. Harder.