Pioneer Natural Resources Announces Initial Production Results for First Horizontal Wolfcamp Shale Well in Martin County, Texas

Pioneer Natural Resources Company (NYSE:PXD) ('Pioneer? or 'the
Company?) today announced that it has placed on production the Company′s
first horizontal Wolfcamp Shale well in Martin County, Texas. The Mabee
K #1H well had an initial 24-hour peak natural flow rate of 1,572
barrels oil equivalent per day (BOEPD) with 77% oil content. The well
was completed in the Wolfcamp B interval utilizing a 27-stage hybrid
fracture stimulation over the well′s perforated lateral length of 6,671
feet.

The initial 24-hour peak natural flow rate for the Mabee K #1H well
compares very favorably with the initial 24-hour peak natural flow rate
for the DL Hutt C #1H well, Pioneer′s first horizontal Wolfcamp Shale B
interval well in Midland County, Texas. The DL Hutt C #1H well had an
initial 24-hour peak natural flow rate of 1,693 BOEPD with 75% oil
content. This well utilized a 30-stage hybrid fracture stimulation over
the well′s longer perforated lateral length of 7,380 feet. When
normalizing the lateral length of the Mabee K #1H well to the longer
lateral length of the DL Hutt C #1H well, the comparable 24-hour peak
natural flow rate for the Mabee K #1H well would have been higher than
the DL Hutt C #1H well at 1,739 BOEPD. The Mabee K #1H well is located
approximately 30 miles north of the DL Hutt C #1H well and 50 miles
north of Pioneer′s first two horizontal Wolfcamp Shale B interval wells
in the Giddings area in Upton County.

Scott Sheffield, Chairman and CEO, stated, 'The strong initial
production rate from the Mabee K #1H well further demonstrates the
prospectivity of Pioneer′s gross 900,000-acre Spraberry/Wolfcamp
leasehold position, which holds an estimated net resource potential for
the Company of more than 4.6 billion barrels oil equivalent. We have
seven horizontal rigs running in the southern part of the play, where
the Company has its joint interest agreement with Sinochem, and we are
increasing our horizontal rig count in the northern part of the play
from one rig to five rigs during the second quarter. Additional rigs are
expected to be added in both the southern and northern parts of the play
next year. This significant ramp up in drilling activity will allow us
to continue to add substantial net asset value as we further delineate
multiple prospective horizontal targets across our large acreage
position, including the Wolfcamp, Jo Mill and Spraberry shale intervals.?

Pioneer 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 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, the receipt of approvals required to consummate the Company′s
Southern Wolfcamp joint venture transaction, 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,
fractionation 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, the
risks associated with the ownership and operation of an industrial sand
mining business 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
U.S. Securities and Exchange Commission (SEC). 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 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 Contacts:

Investors

Frank
Hopkins, 972-969-4065

or

Josh Jones, 972-969-5822

or

Mike
Bandy, 972-969-4513

or

Media and Public Affairs

Susan
Spratlen, 972-969-4018

or

Suzanne Hicks, 972-969-4020