Pioneer Natural Resources Co.

A lawsuit was filed by John Steven Alford and Robert Larrabee, individually and on behalf of a plaintiff class against the independent oil and gas exploration company relating to alleged improper deductions in the calculation of royalties. Pioneer Natural Resources agreed to pay a $32 million settlement and Pioneer USA also agreed to adjust the manner in which royalty payments to the class members will be calculated for production occurring on and after January 1, 2006. (Aug-18-06) [TRADING MARKETS]

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