Pioneer Reports Year-End Reserves and Finding Costs

Pioneer Natural Resources Company (NYSE: PXD) reports that as of December 31, 2005, its total proved oil and gas reserves were 987 million barrels oil equivalent, or 5.9 trillion cubic feet (Tcf) natural gas equivalent, including 429 million barrels of crude oil and natural gas liquids and 3.3 Tcf of natural gas. Proved developed reserves account for approximately 62% of total proved reserves. The estimated present value of Pioneer's proved reserves, utilizing a 10% discount rate, was $10.3 billion. The year-end NYMEX equivalent prices utilized to determine proved reserves were $61.04 per barrel of oil and $10.08 per thousand cubic feet of gas.

Costs incurred during 2005 totaled $1.3 billion, including $991 million for development and exploration activities, $270 million for acquisitions and $19 million for asset retirement obligations. Of Pioneer's 2005 development and exploration cost incurred, 63% was invested in development costs, 25% was invested in exploration and extension drilling, and 12% was invested in non-drilling related categories including seismic and other geologic and geophysical activities. Costs incurred on acquisitions included $170 million for proved reserves and $99 million for unproved properties. The majority of the unproved property expenditures were focused on adding significant new acreage in onshore U.S. resource plays.

Pioneer added 80 million barrels oil equivalent (MMBOE) of proved reserves during 2005, replacing 118% of production at a finding and development cost of $15.98 per barrel oil equivalent (BOE). Pioneer acquired 80 MMBOE of proved reserves, predominantly in the Spraberry field in West Texas, and added 47 MMBOE of proved reserves from discoveries and field extensions. Proved reserves added from discoveries and field extensions are primarily attributable to 2005 drilling in the Raton field in the U.S., the Horseshoe Canyon and Chinchaga fields in Canada and the Neuquen Basin in Argentina and the approval to begin the development of gas reserves off the south coast of South Africa.

During 2005, Pioneer also produced 68 MMBOE, sold 48 MMBOE and had downward revisions to prior reserve estimates of 47 MMBOE. Argentine proved reserves were revised downward by 21 MMBOE primarily reflecting the results of wells drilled to develop the Company's deep gas reserves in the Neuquen Basin which indicated that the gas reservoirs are more complex and compartmentalized than expected. U.S. revisions were primarily in the Raton field where additional production decline history on producing wells and unexpected drilling results in certain areas of the field led to downward revisions of 23 MMBOE to proved reserves. A number of wells drilled on the northern rim of the field during the second half of 2005 encountered less coal bed methane reservoir than expected due to non-productive volcanic intrusions into the coal interval.

On January 17th, Pioneer announced that it had entered into a purchase and sale agreement for the sale of its operations in Argentina. Excluding Argentine operations, Pioneer added 93 MMBOE of proved reserves with costs incurred of $1.15 billion during 2005, replacing 167% of production at a finding and development cost of $12.32 per BOE.

Netherland, Sewell and Associates, Inc. (NSA), a top oil and gas reserve engineering firm, audited the proved reserves of significant fields. Excluding the Argentina and Gulf of Mexico fields targeted for divestiture, NSA audited approximately 92% of the present value and approximately 93% of the quantity of Pioneer's proved reserves at year-end 2005. NSA also audited the year-end proved reserves of Pioneer's significant fields for 2003 and 2004.

Year-end proved reserves and costs incurred are detailed in the attached supplemental schedule.

For the three years ending in 2005, Pioneer's finding and development cost averaged $10.62 per BOE. Over the three-year period, Pioneer added 492 MMBOE for total costs incurred of $5.2 billion. Three-year average reserve replacement was 255%. For the five years ending in 2005, Pioneer's finding and development cost averaged $9.55 per BOE. Over the five-year period, Pioneer added 685 MMBOE for total costs incurred of $6.5 billion. Five-year average reserve replacement was 248%.

Pioneer is a large independent oil and gas exploration and production company, headquartered in Dallas, with operations in the United States, Canada and Africa.

                  PIONEER NATURAL RESOURCES COMPANY
                  UNAUDITED SUPPLEMENTAL INFORMATION
                     Year Ended December 31, 2005


                    United
                    States   Argentina  Canada    Africa      Total
                  ---------- --------- --------- --------- -----------
Proved reserves:
 Oil (MBbls):
    Balance,
     January 1,
     2005           215,062    24,874     1,026     8,271     249,233
    Revisions of
     previous
     estimates         (821)    3,106     2,877       184       5,346
    Purchases of
     minerals-in-
     place           49,741        --        --        --      49,741
    Discoveries
     and
     extensions         196     1,979       505     2,043       4,723
    Production       (9,936)   (2,872)      (87)   (3,674)    (16,569)
    Sales of
     minerals-in-
     place          (21,729)       --    (2,270)       --     (23,999)
                  ---------- --------- --------- --------- -----------
    Balance,
     December 31,
     2005           232,513    27,087     2,051     6,824     268,475
 Natural Gas
 Liquids (MBbls):
    Balance,
     January 1,
     2005           148,195     8,294     3,069        --     159,558
    Revisions of
     previous
     estimates       (4,650)   (1,046)   (2,443)       --      (8,139)
    Purchases of
     minerals-in-
     place           16,059        --        --        --      16,059
    Discoveries
     and
     extensions          29       355       147        --         531
    Production       (6,375)     (666)     (224)       --      (7,265)
    Sales of
     minerals-in-
     place               --        --      (177)       --        (177)
                  ---------- --------- --------- --------- -----------
    Balance,
     December 31,
     2005           153,258     6,937       372        --     160,567
 Natural Gas
 (MMcf):
    Balance,
     January 1,
     2005         3,000,335   560,374   119,869        --   3,680,578
    Revisions of
     previous
     estimates     (141,473) (137,640)   15,887        --    (263,226)
    Purchases of
     minerals-in-
     place           83,179        --       292        --      83,471
    Discoveries
     and
     extensions     103,616    31,606    55,130    60,395     250,747
    Production     (197,391)  (50,017)  (15,665)       --    (263,073)
    Sales of
     minerals-in-
     place          (97,410)       --   (44,999)       --    (142,409)
                  ---------- --------- --------- --------- -----------
    Balance,
     December 31,
     2005         2,750,856   404,323   130,514    60,395   3,346,088
 Equivalent
 Barrels (MBOE):
    Balance,
     January 1,
     2005           863,313   126,564    24,073     8,271   1,022,221
    Revisions of
     previous
     estimates      (29,049)  (20,881)    3,082       184     (46,664)
    Purchases of
     minerals-in-
     place           79,663        --        49        --      79,712
    Discoveries
     and
     extensions      17,494     7,602     9,840    12,109      47,045
    Production
     (a)            (49,210)  (11,874)   (2,922)   (3,674)    (67,680)
    Sales of
     minerals-in-
     place          (37,964)       --    (9,947)       --     (47,911)
                  ---------- --------- --------- --------- -----------
    Balance,
     December 31,
     2005           844,247   101,411    24,175    16,890     986,723
                  ========== ========= ========= ========= ===========

Costs incurred for oil and gas
 producing activities ($000):

 Property
  acquisition
  costs:
    Proved         $167,814       $--    $2,593       $--    $170,407
    Unproved         60,561       512     7,344    30,923      99,340
                  ---------- --------- --------- --------- -----------
                    228,375       512     9,937    30,923     269,747
 Exploration
  costs             217,723    36,878    43,437    63,605     361,643
 Development
  costs             448,383    85,786    77,962    16,777     628,908
                  ---------- --------- --------- --------- -----------
                    894,481   123,176   131,336   111,305   1,260,298

 Asset retirement
  obligations         8,909     6,464       (98)    3,963      19,238

                  ---------- --------- --------- --------- -----------
 Total costs
  incurred         $903,390  $129,640  $131,238  $115,268  $1,279,536
                  ========== ========= ========= ========= ===========

 Reserve
  replacement
  percentage (b)        138%       NM       444%      335%        118%
                  ========== ========= ========= ========= ===========

 Finding and
  development costs
  per BOE of
  proved reserves
  added (c)          $13.26       $--    $10.12     $9.38      $15.98
                  ========== ========= ========= ========= ===========


(a) Production includes 1,188 MBOE related to discontinued operations
    and 2,409 MBOE related to field fuel.

(b) The summation of annual proved reserves, on a BOE basis,
    attributable to revisions of previous estimates, purchases of
    minerals-in-place and discoveries and extensions divided by annual
    production of oil, NGLs and natural gas, on a BOE basis.

(c) Total costs incurred divided by the summation of annual proved
    reserves, on a BOE basis, attributable to revisions of previous
    estimates, purchases of minerals-in-place and discoveries and
    extensions. Consistent with industry practice, future capital
    costs to develop proved undeveloped reserves are not included in
    costs incurred.

    NM = Not meaningful.

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