Pioneer Natural Resources Reports First Quarter 2011 Financial and Operating Results

Pioneer Natural Resources Company (NYSE:PXD) ('Pioneer? or 'the
Company?) today announced financial and operating results for the
quarter ended March 31, 2011.

Pioneer reported first quarter net income attributable to common
stockholders of $349 million, or $2.96 per diluted share (see attached
schedule for a description of the earnings per diluted share
calculation). Net income included unrealized mark-to-market losses on
derivatives of $164 million after tax, or $1.40 per diluted share.
Without the effect of this item, adjusted income for the first quarter
of 2011 would have been $513 million, or $4.36 per diluted share.

Also included in Pioneer′s first quarter results was income of $432
million after tax, or $3.68 per diluted share, related to unusual items.
These unusual items included:

• 
  income from discontinued operations of $415 million after tax ($3.53
  per diluted share) that was primarily attributable to the gain
  recognized on the sale of Pioneer′s Tunisian subsidiaries, and
  
• 
  Alaska Petroleum Production Tax (PPT) credits of $17 million after tax
  ($0.15 per diluted share).
  

First quarter and other recent highlights included:

• 
  producing 111.2 thousand barrels oil equivalent per day (MBOEPD) from
  continuing operations, despite losing 2 MBOEPD attributable to severe
  weather downtime during February in Texas, Kansas and Colorado, and
  1.5 MBOEPD of unplanned third-party downtime during the quarter in the
  Mid-Continent, Alaska and South Africa,
  
• 
  planning to accelerate the Spraberry drilling program from 32 rigs
  currently to 35 rigs by mid-year, operating 4 Spraberry fracture
  stimulation fleets, with plans to increase to 6 fleets in May and 7
  fleets by year end,
  
• 
  downspacing to 20-acre wells in the Spraberry and delivering
  production in excess of expectations,
  
• 
  drilling deeper to the Strawn and Atoka intervals in the Spraberry
  field with early Strawn well results indicating up to a 20% increase
  in cumulative first-year production as compared to offset Wolfberry
  wells; currently completing Pioneer′s first 2 Atoka wells,
  
• 
  progressing horizontal pilot program in the Spraberry with 2
  horizontal Wolfcamp wells producing; planning to drill 6 ? 8
  additional wells to test multiple formations,
  
• 
  operating 9 rigs in the Eagle Ford Shale; on track to increase to 12
  rigs by mid-2011,
  
• 
  initiating 2 fracture stimulation fleets in the Eagle Ford Shale in
  May; expect to be at 3 fracture stimulation fleets by year end,
  
• 
  developing the Barnett Shale Combo play with 24 wells drilled and 5
  wells currently on production; early well results consistent with
  expectations,
  
• 
  completing the sale of Pioneer′s Tunisian subsidiaries for $866
  million and
  
• 
  decreasing net debt-to-book capitalization from 37% at year-end 2010
  to 31% at the end of the first quarter of 2011.
  

Scott Sheffield, Chairman and CEO, stated, 'Despite having production
curtailed in the first quarter due to the impacts of severe weather and
unscheduled third-party downtime, we continue to expect to deliver
full-year 2011 production growth for the Company ranging from 125 MBOEPD
to 130 MBOEPD, an increase of 15% to 19% compared to 2010 (reflecting
production from Tunisia as discontinued operations). Both the Spraberry
and Eagle Ford Shale accelerated drilling programs are on track to
deliver most of this growth, much of it during the second half of the
year in response to increasing fracture stimulation capacity. We expect
to fund our accelerated drilling program for 2011 from forecasted
operating cash flow of $1.5 billion and the redeployment of a portion of
the proceeds from the sale of Tunisia. For the 2011 to 2013 period, we
expect to deliver compound annual production growth for the Company of
18+% and expect operating cash flow to grow to $2.6 billion in 2013.
Pioneer remains committed to maintaining our strong financial position.?

Operations Update and Drilling Program

In the Spraberry field in West Texas, Pioneer′s drilling program
continues to ramp up, with 32 rigs currently operating, including 14
Company-owned rigs. As a result of the Tunisia sale, the Company is
accelerating its planned drilling ramp-up in the field and expects to
increase the rig count to 35 rigs by mid-2011 and 45 rigs by early 2012.

As Pioneer ramps up drilling in the Spraberry field, the Company
continues to expand its integrated services to control drilling costs
and support execution of its accelerated drilling program. Three
Company-owned fracture stimulation fleets are currently operating. Two
additional fleets are being added, with the first scheduled to be
operational in May and the second during the fourth quarter of 2011. To
support its growing operations, the Company also owns other field
service equipment, including pulling units, fracture stimulation tanks,
water transport trucks and fishing tools. In addition, the Company has
contracted for its forecasted fracture stimulation sand supply
requirements through 2015, its tubular and pumping unit requirements
through 2012 and is planning to enter a contract with a third party to
supply well cementing services through 2016.

Vertical integration in the Spraberry field is saving Pioneer up to $0.5
million per well compared to utilizing third-party services. Pioneer
expects to meet approximately one third of its rig requirements and two
thirds of its fracture stimulation requirements with its own equipment
in 2011. As a result, the blended Pioneer and third-party 2011 well cost
is expected to average $1.4 million to $1.5 million per well. Pioneer′s
internal rate of return on its 2011 Spraberry drilling program is
expected to be 50% before tax based on current NYMEX strip commodity
prices and estimated future production costs.

The Company′s accelerated drilling program and increasing fracture
stimulation capacity in the Spraberry field is expected to significantly
increase wells on production during 2011, particularly in the second
half of the year. As a result, quarterly production growth is forecast
over the remainder of the year, with full-year production expected to
average 43 MBOEPD to 46 MBOEPD, further increasing to 52 MBOEPD to 56
MBOEPD in 2012 and 66 MBOEPD to 70 MBOEPD in 2013.

The Company continues to test downspacing in the Spraberry field from 40
acres to 20 acres. Eighteen 20-acre wells were drilled in 2010, with 14
of these wells on production. These 20-acre wells are capturing pay from
the Lower Wolfcamp, Strawn and shale/silt intervals. Early results
indicate production from these wells is outperforming the previous 110
MBOE type curve for a traditional Spraberry/Dean well. Plans call for
drilling twenty 20-acre downspaced wells in 2011.

During 2010, Pioneer successfully added incremental production and
proved reserves from vertical completions in the deeper Lower Wolfcamp
and shale/silt intervals. As a result, the Company increased the
estimated ultimate recovery (EUR) of a vertical Spraberry well from 110
MBOE to 140 MBOE to reflect the incremental production and reserves
being added from this deeper drilling. The deeper Strawn and Atoka
intervals below the Wolfcamp are now being tested in certain areas of
the field with the expectation that incremental production and reserves
will be added.

Of the 78 Spraberry wells drilled to the Strawn since the testing
program began in the first quarter of 2010, 38 wells have been completed
in that interval. Early results suggest an increase of up to 20% in
cumulative first-year production compared to production from offset
Wolfberry wells over the same time period. The incremental cost per well
for this deeper drilling and one additional frac stage is approximately
$60 thousand. Pioneer believes the Strawn interval is prospective in 40%
of its Spraberry acreage and expects to target this interval in 50% of
the wells in its 2011 drilling program.

The Company is currently completing its first two vertical Atoka wells.
Plans are to test the Atoka interval for two months and then comingle
this production with production from upper intervals in the Spraberry
and Wolfcamp zones. The incremental cost to drill an Atoka well is
estimated to be $500 thousand to $750 thousand, reflecting deeper
drilling and adding an intermediate casing string and CO₂
fracture stimulation. Plans call for testing 10 to 20 Atoka wells in
2011.

The Company has also commenced a pilot program to test horizontal
drilling applications in multiple intervals of the Spraberry field. The
first two wells in the program have been drilled and completed. Both
wells had 4,000-foot laterals with 15-stage fracture stimulation
completions.

The first horizontal well was drilled in a Wolfcamp carbonate interval.
Microseismic indicated the completion did not effectively stimulate the
targeted zone. As a result, the well had an initial production rate of
approximately 100 barrels oil per day (BOPD), but production declined
more quickly than expected. Given the ineffective stimulation, the
Company does not view this well as a representative test of the
potential for a horizontal well in this interval and plans to test
additional horizontal wells in this interval.

The second horizontal well targeted the Lower Wolfcamp shale interval.
It was completed in late April. Microseismic indicated the successful
stimulation of the interval. The well is currently unloading the
fracture stimulation water with strong flowing pressure. With 30% of the
load water recovered, an early test rate of 150 BOPD has been recorded.

The pilot program calls for drilling six to eight more horizontal wells.
These wells will target the Lower Wolfcamp shale, Tippett shale (Middle
Wolfcamp), Wolfcamp carbonate and Jo Mill (Middle Spraberry) intervals.

Water injection was initiated in the third quarter of 2010 on the
Company′s 7,000-acre waterflood project in the Upper Spraberry interval.
Early results are encouraging, as the production decline from 110
producing wells in the surveillance area continues to flatten. Early
production response has been observed in several wells and there has
been no premature water breakthrough. Based on the results of historical
waterflood projects, an ultimate 50% uptick in production from the
flooded Upper Spraberry interval is expected.

In the highly prospective Eagle Ford Shale in South Texas, Pioneer and
its joint venture partners have successfully drilled 50 horizontal wells
through the end of the first quarter of 2011. Twenty-four of the wells
are on production and performing as forecasted. Of the remaining 26
wells, 5 are completed and awaiting hookup. Completion of the remaining
21 wells has been slower than anticipated due to limited third-party
fracture stimulation fleet availability.

Pioneer has 9 rigs currently running in the play and plans to increase
to 12 rigs by mid-year, 14 rigs in early 2012 and 16 rigs in early 2013.

To improve the execution of its drilling and completions program and
reduce costs, Pioneer has purchased two fracture stimulation fleets for
its Eagle Ford Shale completions. One was placed in service in April and
the other is expected to be operational during the fourth quarter of
2011. The Company also entered into a two-year contract for a dedicated
third-party fracture stimulation fleet which commenced operating in
April.

Five central gathering plants (CGPs) have been completed as part of the
joint venture′s Eagle Ford Shale midstream business. Three additional
CGPs are expected to be completed over the remainder of 2011.

Pioneer′s gross well cost in the Eagle Ford Shale ranges from $7 million
to $8 million per well. Using this cost and current NYMEX strip
commodity prices, and excluding the benefit of the joint-venture
drilling carry, before tax internal rates of return are estimated at
110% for high condensate yield wells (200 barrels per million cubic
feet) and 70% for low condensate yield wells (60 barrels per million
cubic feet).

Based on the increasing rig count and fracture stimulation capacity in
the Eagle Ford Shale, Pioneer expects to significantly increase the
number of wells put on production during 2011, especially during the
second half of the year. Average annual production in 2011 is expected
to grow to 12 MBOEPD to 15 MBOEPD, with a further expected increase to
26 MBOEPD to 30 MBOEPD in 2012 and 40 MBOEPD to 45 MBOEPD in 2013.

Sufficient gas processing, fractionation and transportation capacity is
in place with third-party midstream service providers to handle
Pioneer′s growing Spraberry and Eagle Ford Shale production.

In the liquids-rich Barnett Shale Combo play, Pioneer has built a
70,000-acre position, representing more than 600 drilling locations.
Drilling commenced in the play in the latter part of 2010, with 2 rigs
currently operating. The Company has acquired 160 square miles of 3-D
seismic covering its acreage and expects to increase this coverage to
200 square miles by year end. Twenty-four wells have been drilled to
date, of which 10 have been completed and 5 are producing. Of the three
most recent wells placed on production, the 5-day initial production
rates have averaged 155 BOPD and 854 thousand cubic feet per day
(MCFPD), or 356 barrels of oil equivalent per day including the
incremental uplift from natural gas liquids (NGLs).

The Company expects to generate quarterly production growth over the
remainder of 2011 and average 4 MBOEPD to 5 MBOEPD for the full year.
Plans call for increasing the rig count from 2 rigs in 2011 to 4 rigs in
2012, which is expected to further increase production to 9 MBOEPD to 11
MBOEPD in 2012 and 16 MBOEPD to 20 MBOEPD in 2013. Assuming current
NYMEX strip commodity prices, an average per well drilling cost of $3
million and a gross EUR of 320 MBOE, Pioneer′s internal rate of return
in the Barnett Shale Combo play is expected to be 50% before tax. A
Pioneer-owned frac fleet has been purchased for the Barnett Shale Combo
play with delivery expected later in May.

On the North Slope of Alaska, Pioneer will continue to operate one rig
during 2011. During the first quarter, the Company drilled its second
well to test the Torok formation within the Moraine play. This well is
currently being tested. The Company will also be performing well
maintenance on 3 producing wells during the second quarter. After the
completion of this maintenance activity, additional Kuparuk and Nuiqsut
drilling is planned over the remainder of 2011.

2011 Capital Budget

Pioneer′s capital program for 2011 continues at $1.8 billion, consisting
of $1.6 billion for drilling operations and $0.2 billion for vertical
integration and facilities. The 2011 budget excludes acquisitions, asset
retirement obligations, capitalized interest and geological and
geophysical G&A.

The 2011 drilling capital of $1.6 billion continues to be focused on oil
and liquids-rich drilling, with 75% of the capital allocated to the
Spraberry and Eagle Ford Shale plays. The following provides a breakdown
of the forecasted spending by asset:

• 
  Spraberry - $1.1 billion
  
• 
  Eagle Ford Shale - $110 million (reflects 25% of anticipated 2011
  drilling costs; remaining 75% covered by drilling carry from Reliance
  Industries Limited)
  
• 
  Barnett Shale Combo play - $170 million
  
• 
  Alaska - $115 million
  
• 
  Other - approximately $120 million, including land capital for
  existing assets
  

Funds for the expansion of Pioneer′s integrated well service operations
in the Spraberry field, the establishment of similar services in the
Eagle Ford Shale and Barnett Shale Combo plays, and the build-out of
facilities to support vertical integration (yards, buildings and shops)
are budgeted at $200 million in 2011 and will be recorded in Other
Property and Equipment.

2011 Capital Budget Funding and Balance Sheet

The 2011 capital budget is expected to be funded from forecasted
operating cash flow of $1.5 billion, assuming current NYMEX strip
pricing, and by redeploying $0.3 billion from the proceeds attributable
to the recent sale of Tunisia.

Pioneer′s net debt (reduced for cash on Pioneer′s balance sheet) at the
end of the first quarter of 2011 was $2 billion, a reduction of $0.5
billion from year-end 2010. With Pioneer′s improving net debt position,
net debt-to-book capitalization declined from 37% at year-end 2010 to
31% at the end of the first quarter of 2011. The Company is committed to
keeping its net debt-to-book capitalization below 35% and net debt to
operating cash flow below 1.75 times.

Eagle Ford Shale Midstream Operations

Pioneer′s share of its Eagle Ford Shale joint-venture midstream
activities is conducted through a partially-owned, unconsolidated
entity. After May 2011, the Company expects the funding for the ongoing
midstream infrastructure build-out to be provided from external debt
sources. Cash flow from the services provided by the midstream
operations is not included in Pioneer′s forecasted operating cash flow
of $1.5 billion in 2011.

First Quarter 2011 Financial Review

The following financial results for the first quarter of 2011 reflect
continuing operations.

First quarter sales averaged 111 MBOEPD, consisting of oil sales
averaging 34 MBOPD, NGL sales averaging 19 thousand barrels per day and
gas sales averaging 349 MMCFPD.

The average reported first quarter price for oil was $95.62 per barrel
and included $3.57 per barrel related to deferred revenue from
volumetric production payments (VPPs) for which production was not
recorded. The average reported price for NGLs was $42.17 per barrel. The
average reported price for gas was $4.14 per thousand cubic feet.

First quarter production costs averaged $13.31 per barrel oil equivalent
(BOE), an increase of $2.37 per BOE from the fourth quarter of 2010.
This increase included the impact of repairs during the first quarter
associated with the severe weather downtime and higher production taxes
associated with rising oil prices. It also reflects a one-time
processing fee recovery in the fourth quarter associated with the
Company′s Oooguruk project in Alaska of $10 million and an ad valorem
tax accrual reduction in the fourth quarter.

Depreciation, depletion and amortization (DD&A) expense averaged $14.02
per BOE for the first quarter. Exploration and abandonment costs were
$18 million for the quarter and included $2 million of unsuccessful
exploration costs and acreage abandonments and $16 million of geologic
and geophysical expenses and personnel costs.

Second Quarter 2011 Financial Outlook

The Company′s second quarter 2011 outlook for certain operating and
financial items is provided below.

Production is forecasted to average 116 MBOEPD to 121 MBOEPD.

Production costs are expected to average $12.00 to $14.00 per BOE, based
on current NYMEX strip commodity prices. DD&A expense is expected to
average $13.50 to $15.00 per BOE.

Total exploration and abandonment expense is forecasted to be $25
million to $35 million, primarily related to exploration wells,
including related acreage costs, and seismic and personnel costs.

General and administrative expense is expected to be $45 million to $49
million, interest expense is expected to be $44 million to $47 million,
and other expense is expected to be $20 million to $25 million.
Accretion of discount on asset retirement obligations is expected to be
$2 million to $4 million.

Noncontrolling interest in consolidated subsidiaries′ income, excluding
unrealized derivative mark-to-market adjustments, is expected to be $9
million to $12 million, primarily reflecting the public ownership in
Pioneer Southwest Energy Partners L.P.

The Company′s effective income tax rate is expected to range from 35% to
45% based on current capital spending plans and the assumption of no
significant unrealized derivative mark-to-market changes in the
Company′s derivative position. Current income taxes are expected to be
$5 million to $10 million and are primarily attributable to South Africa.

The Company's financial and derivative mark-to-market results, open
derivatives positions for oil, NGL and gas, amortization of net deferred
gains on discontinued commodity hedges and future VPP amortization are
outlined on the attached schedules.

Earnings Conference Call

On Wednesday, May 4, 2011, at 9:00 a.m. Central Time, Pioneer will
discuss its financial and operating results for the quarter ended March
31, 2011, with an accompanying presentation. Instructions for listening
to the call and viewing the accompanying presentation are shown below.

Internet: www.pxd.com

Select
'Investors,? then 'Earnings Calls & Webcasts? to listen to the
discussion and view the presentation.

Telephone: Dial (800) 967-7137 confirmation code: 3709635 five minutes
before the call. View the presentation via Pioneer′s internet address
above.

A replay of the webcast will be archived on Pioneer′s website. A
telephone replay will be available through May 28 by dialing (888)
203-1112 confirmation code: 3709635.

Pioneer is a large independent oil and gas exploration and production
company, headquartered in Dallas, Texas, with operations primarily in
the United States. For more information, visit Pioneer′s website at www.pxd.com.

Except for historical information contained herein, the statements in
this news release are forward-looking statements that are made pursuant
to the Safe Harbor Provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements and the business
prospects of Pioneer are subject to a number of risks and uncertainties
that may cause Pioneer's actual results in future periods to differ
materially from the forward-looking statements. These risks and
uncertainties include, among other things, volatility of commodity
prices, product supply and demand, competition, the ability to obtain
environmental and other permits and the timing thereof, other government
regulation or action, the ability to obtain approvals from third parties
and negotiate agreements with third parties on mutually acceptable
terms, litigation, the costs and results of drilling and operations,
availability of equipment, services and personnel required to complete
the Company′s operating activities, access to and availability of
transportation, processing and refining facilities, Pioneer's ability to
replace reserves, implement its business plans or complete its
development activities as scheduled, access to and cost of capital, the
financial strength of counterparties to Pioneer′s credit facility and
derivative contracts and the purchasers of Pioneer′s oil, NGL and gas
production, uncertainties about estimates of reserves and resource
potential and the ability to add proved reserves in the future, the
assumptions underlying production forecasts, quality of technical data,
environmental and weather risks, including the possible impacts of
climate change, international operation and acts of war or terrorism.
These and other risks are described in Pioneer's 10-K and 10-Q Reports
and other filings with the Securities and Exchange Commission. In
addition, Pioneer may be subject to currently unforeseen risks that may
have a materially adverse impact on it. Pioneer undertakes no duty to
publicly update these statements except as required by law.

Cautionary Note to U.S. Investors -- The U.S. Securities and Exchange
Commission (the 'SEC') prohibits oil and gas companies, in their filings
with the SEC, from disclosing estimates of oil or gas resources other
than 'reserves,? as that term is defined by the SEC. In this news
release, Pioneer includes estimates of quantities of oil and gas using
certain terms, such as 'resource potential,? 'estimated ultimate
recovery,? 'EUR? or other descriptions of volumes of reserves, which
terms include quantities of oil and gas that may not meet the SEC′s
definitions of proved, probable and possible reserves, and which the
SEC's guidelines strictly prohibit Pioneer from including in filings
with the SEC. These estimates are by their nature more speculative than
estimates of proved reserves and accordingly are subject to
substantially greater risk of being recovered by Pioneer. U.S. investors
are urged to consider closely the disclosures in the Company′s periodic
filings with the SEC.Such filings are available from the Company
at 5205 N. O'Connor Blvd., Suite 200, Irving, Texas 75039, Attention:
Investor Relations, and the Company′s website at www.pxd.com.
These filings also can be obtained from the SEC by calling
1-800-SEC-0330.

_____________

PIONEER NATURAL RESOURCES COMPANY

UNAUDITED SUPPLEMENTARY EARNINGS PER SHARE INFORMATION

The Company uses the two-class method of calculating basic and diluted
earnings per share. Under the two-class method of calculating earnings
per share, GAAP provides that share- and unit-based awards with
guaranteed dividend or distribution participation rights qualify as
'participating securities' during their vesting periods. The Company's
basic net income per share attributable to common stockholders is
computed as (i)  net income attributable to common stockholders,
(ii)  less participating share- and unit-based basic earnings
(iii)  divided by weighted average basic shares outstanding. The
Company's diluted net income per share attributable to common
stockholders is computed as (i)  basic net income attributable to common
stockholders, (ii)  plus adjustments to participating undistributed
earnings (iii)  divided by weighted average diluted shares outstanding.
During periods in which the Company realizes a loss from continuing
operations attributable to common stockholders, securities or other
contracts to issue common stock would be dilutive to loss per share;
therefore, conversion into common stock is assumed not to occur.

The following table is a reconciliation of the Company's net income
attributable to common stockholders to basic net income attributable to
common stockholders and to diluted net income attributable to common
stockholders for the three months ended March 31, 2011 and 2010:

The following table is a reconciliation of basic weighted average common
shares outstanding to diluted weighted average common shares outstanding
for the three months ended March 31, 2011 and 2010:

PIONEER NATURAL RESOURCES COMPANY

UNAUDITED SUPPLEMENTAL NON-GAAP FINANCIAL MEASURES

(in
thousands)

EBITDAX and discretionary cash flow ('DCF') (as defined below) are
presented herein, and reconciled to the generally accepted accounting
principle ('GAAP') measures of net income and net cash provided by
operating activities because of their wide acceptance by the investment
community as financial indicators of a company's ability to internally
fund exploration and development activities and to service or incur
debt. The Company also views the non-GAAP measures of EBITDAX and DCF as
useful tools for comparisons of the Company's financial indicators with
those of peer companies that follow the full cost method of accounting.
EBITDAX and DCF should not be considered as alternatives to net income
or net cash provided by operating activities, as defined by GAAP.

_____________

PIONEER NATURAL RESOURCES COMPANY

UNAUDITED SUPPLEMENTARY NON-GAAP FINANCIAL MEASURES (continued)

(in
millions, except per share data)

Income adjusted for unrealized mark-to-market ('MTM') derivative losses,
and income adjusted for unrealized MTM derivative losses and unusual
items, as presented in this press release, are presented and reconciled
to Pioneer's net income attributable to common stockholders that is
determined in accordance with GAAP because Pioneer believes that these
non-GAAP financial measures reflect an additional way of viewing aspects
of Pioneer's business that, when viewed together with its financial
results computed in accordance with GAAP, provide a more complete
understanding of factors and trends affecting its historical financial
performance and future operating results, greater transparency of
underlying trends and greater comparability of results across periods.
In addition, management believes that these non-GAAP measures may
enhance investors' ability to assess Pioneer's historical and future
financial performance. These non-GAAP financial measures are not
intended to be substitutes for the comparable GAAP measures and should
be read only in conjunction with Pioneer's consolidated financial
statements prepared in accordance with GAAP. Unrealized MTM net
derivative losses, Alaska petroleum production tax credit recoveries and
net discontinued operations will recur in future periods; however, the
amount and frequency of each item can vary significantly from period to
period. The table below reconciles Pioneer's net income attributable to
common stockholders for the three months ended March 31, 2011, as
determined in accordance with GAAP, to income adjusted for unrealized
MTM derivative losses, and income adjusted for unrealized MTM derivative
losses and unusual items, for that quarter.

_____________

_____________

_____________

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Pioneer Natural Resources

Investors

Frank
Hopkins, 972-969-4065

or

Brian Hansen, 972-969-4017

or

Eric
Pregler, 972-969-5756

or

Media and Public Affairs

Susan
Spratlen, 972-969-4018

or

Suzanne Hicks, 972-969-4020