An announcement from Pioneer Natural (PXD) is now available.
In May 2020, a company issued $1.3 billion in convertible senior notes due in 2025, with some holders opting to convert their notes into cash during the first quarter of 2024, a process treated as a derivative instrument. Additionally, the company is engaged in long-term oil marketing derivatives through contracts that involve buying and selling oil at a Texas terminal, with pricing linked to WTI and Brent oil prices. These actions are also accounted for as derivative instruments, not as hedges.
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