Pioneer Announces Final Tender Results for Debt Tender Offer

Pioneer Natural Resources Company (NYSE: PXD) announced the final tender results for its previously announced offer to purchase its 6.50% Senior Notes due 2008 (CUSIP No. 723787 AA 5) (the "Notes").

As of 12:00 midnight, New York City time, on Wednesday, May 24,2006 (the "Expiration Date"), Pioneer had received tenders for $296.2 million in principal amount of the Notes (the "Tendered Notes") representing 84.6% of the outstanding principal amount of the Notes. Pioneer has accepted tenders of all of the Tendered Notes.

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