Pioneer Sells $500 Million of 10-Year Notes

    DALLAS, March 7 /CNW/ - Pioneer Natural Resources Company (NYSE:  PXD)
today announced that it has sold $500 million of 6.65% Senior Notes that will
mature March 15, 2017 (the "2017 Notes"). The price to the public for the 2017
Notes is 99.689% of the principal amount. The Company plans to use the net
proceeds to repay a portion of its outstanding bank debt.

    Interest is payable March 15 and September 15 of each year. The first
interest payment will be made on September 15, 2007, and will consist of
interest from closing to that date. The offering is expected to close on March
12, 2007.

    The offering was underwritten by Deutsche Bank Securities Inc., as sole
bookrunner and joint lead manager, and J.P. Morgan Securities Inc., as joint
lead manager. A copy of the prospectus supplement and prospectus relating to
the offering may be obtained from Deutsche Bank Securities Inc., at 60 Wall
Street, New York, New York 10005, or by calling toll-free (1-800) 503-4611.

    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

    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 and other risks are described in Pioneer's 10-K and 10-Q
Reports and other filings with the Securities and Exchange Commission. Pioneer
undertakes no duty to publicly update these statements except as required by

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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