Pioneer Increases Semi-Annual Dividend on Common Shares

    DALLAS, August 22 /CNW/ - Pioneer Natural Resources Company (NYSE:  PXD)
announced today that its board of directors declared a cash dividend of $0.14
per share on Pioneer's outstanding common stock, an increase of approximately
8%. The semi-annual dividend is payable October 12, 2007 to stockholders of
record at the close of business on September 28, 2007.

    Pioneer is a large independent oil and gas exploration and production
company, headquartered in Dallas, with operations in the United States,
Canada, South Africa and Tunisia. For more information, visit Pioneer's
website at

For further information:

For further information: Pioneer Natural Resources Company Investors:
Frank Hopkins or Scott Rice, 972-444-9001 or Media and Public Affairs: Susan
Spratlen, 972-444-9001

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