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Pioneer Increases Dividend on Common Shares

DALLAS--(BUSINESS WIRE)--Aug. 25, 2006--Pioneer Natural Resources Company (NYSE:PXD) announced today that its board of directors declared a cash dividend of $0.13 per share on Pioneer's outstanding common stock, an increase of 8%. The dividend is payable October 12, 2006 to stockholders of record at the close of business on September 28, 2006.

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


    CONTACT: Pioneer Natural Resources Company, Dallas
             Investors:
             Frank Hopkins, 972-444-9001
             or
             Media and Public Affairs:
             Susan Spratlen, 972-444-9001

    SOURCE: Pioneer Natural Resources Company

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