Pioneer Natural Resources Pursuing Divestment of Barnett Shale Properties

Pioneer Natural Resources Company (NYSE:PXD) ('Pioneer? or 'the
Company?) today announced the Company is pursuing the divestment of its
properties in the Barnett Shale.

Since entering the Barnett Shale in 2007, Pioneer has accumulated
approximately 155,000 gross acres, of which approximately two-thirds are
located in the liquids-rich Barnett Shale Combo play. The remaining
one-third are located in the dry gas area of the play. The Company has
grown production to approximately seven thousand barrels oil equivalent
per day, of which approximately 55% is liquids (oil and natural gas
liquids) and 45% is dry gas.

Scott Sheffield, Chairman and CEO, stated, 'The sale of our Barnett
Shale properties will allow us to strategically reallocate capital to
our higher-return, core assets in the Spraberry vertical play, the
horizontal Wolfcamp Shale play and the Eagle Ford Shale. We plan to
utilize the net proceeds from the divestiture to reduce indebtedness
under Pioneer's credit facility.?

Pioneer expects to open a data room in October and is targeting
completion of the divestiture process during the first quarter of 2013.
RBC Richardson Barr has been engaged to market the assets for the
Company.

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

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
implement its business plans (including its plan to complete certain
asset divestments) or complete its development activities as scheduled,
access to and cost of capital, quality of technical data, and
environmental and weather risks, including the possible impacts of
climate change. 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.