Pioneer Natural Resources Discontinuing Divesture Process for Barnett Shale Properties

Pioneer Natural Resources Company (NYSE:PXD) ('Pioneer? or 'the
Company?) today announced the Company has discontinued efforts to divest
its properties in the Barnett Shale.

Pioneer commenced a divestiture process for these properties in
September 2012. Several bids were received in December, but none were
representative of the value Pioneer places on these properties. As a
result, Pioneer will retain operatorship of this asset.

Pioneer holds approximately 155,000 gross acres in the play, of which
approximately two-thirds are located in the liquids-rich Barnett Shale
Combo play. The remaining one-third is located in the dry gas area of
the play. Production in the fourth quarter of 2012 was approximately
nine thousand barrels oil equivalent per day, of which approximately 55%
was liquids (oil and natural gas liquids) and 45% was dry gas. Pioneer
is currently operating one rig in the Combo Play and plans to continue
to focus its drilling activities in this area.

As a result of the planned divestiture, Pioneer′s Barnett Shale
properties were reclassified to discontinued operations in the third
quarter of 2012. With the discontinuance of the divestment process, the
financial and operating results for these properties will be
reclassified back to continuing operations beginning in the fourth
quarter of 2012.

Pioneer′s future plans for its Barnett Shale properties will be
discussed further during Pioneer′s quarterly conference call on
Thursday, February 14, 2013, at 9:00 a.m. Central Time, when Pioneer
will also discuss its fourth quarter and full-year 2012 financial
results and 2013 Capital Budget, with an accompanying presentation.
Instructions for listening to the call and viewing the presentation are
shown below.

Internet: www.pxd.com

Select
'Investors,? then 'Earnings & Webcasts,? to listen to the discussion,
view the presentation and see other related material.

Telephone: Dial (877) 718-5108, confirmation code: 7431932 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 March 11, 2013 by dialing
(888) 203-1112, confirmation code: 7431932.

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

Except for historical information contained herein, the statements,
charts and graphs in this presentation 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, litigation, the costs and results of drilling and
operations, availability of equipment, services, resources 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, quality of technical data, environmental and weather risks,
including the possible impacts of climate change, 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.

Pioneer Natural Resources

Investors:

Frank
Hopkins, 972-969-4065

or

Eric Pregler, 972-969-5756

or

Josh
Jones, 972-969-5822

or

Media and Public Affairs:

Susan
Spratlen, 972-969-4018

or

Suzanne Hicks, 972-969-4020