OUR HISTORY


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. In September 2004, Pioneer merged with Evergreen Resources, Inc. creating a new core area in the Rocky Mountains that enhances Pioneer's strong foundation in North America. Pioneer is the largest operator in the Spraberry oil field in West Texas and the gas-rich Raton basin in Southeastern Colorado. The Company 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 Pawnee and Edwards Reef plays. 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.