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Pioneer Sells $500 Million of 10-Year Notes

DALLAS--(BUSINESS WIRE)--March 7, 2007--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 law.

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

SOURCE: Pioneer Natural Resources Company

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