Pioneer Natural Resources Company

Pioneer Natural Resources Company was formed through the 1997 merger of Parker & Parsley Petroleum Company and MESA Inc. Both companies were built on the strategy of acquiring and exploiting proved properties and had built significant operated interests in quality long-lived fields. Pioneer Natural Resources is a large independent exploration and production company focused on delivering competitive and sustainable results. Pioneer responsibly produces oil and gas resources to help meet the world's energy demands as it provides opportunities for growth and enrichment to employees, business partners and the communities in which the Company operates.

Pioneer is the largest operator in the Spraberry/Wolfcamp oil field in West Texas and the gas-rich Raton basin in Southeastern Colorado. Pioneer is one of the largest operators in the Hugoton gas field in Kansas and the West Panhandle gas field in the Texas Panhandle and has been the most active driller for several years in the South Texas Eagle Ford play. Pioneer's high-quality assets provide a solid base, continued development opportunity to increase production and significant cash flow in excess of that required to maintain production.