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Pioneer Natural Resources Announces Closing of Sale of Tunisia
Subsidiaries to OMV for $866 Million

DALLAS, Feb 18, 2011 (BUSINESS WIRE) --

Pioneer Natural Resources Company (NYSE:PXD) ("Pioneer" or "the Company") today announced that the Company closed its previously announced sale of all of the stock of Pioneer's Tunisia subsidiaries to a wholly-owned subsidiary of OMV AG for cash proceeds of $866 million, before normal closing adjustments. The transaction has an effective date of January 1, 2011.

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

SOURCE: Pioneer Natural Resources Company

Pioneer Natural Resources
Investors
Frank Hopkins, 972-969-4065
or
Brian Hansen, 972-969-4017
or
Media and Public Affairs
Susan Spratlen, 972-969-4018
or
Suzanne Hicks, 972-969-4020

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