Pioneer Natural Resources Company says continued success from its drilling program in the Edwards Trend in South Texas. The Company drilled 34 wells in the trend during 2007 resulting in a 38% increase in average annual net daily gas production to 54 million cubic feet gas equivalent per day (MMCFEPD). At year end, Pioneer's net daily gas production from the Edwards Trend was averaging more than 60 MMCFEPD. Since initiating its Edwards Expansion project in 2006, Pioneer has booked approximately 120 billion cubic feet (BCF) of net proved gas reserves.

Three recent wells had daily gross production test rates of 12 MMCFPD to 16 MMCFPD. While these rates are not indicative of expected stabilized production rates, they materially exceeded historical average initial test rates from wells drilled in the trend. These wells are expected to be brought on production during the first quarter of 2008. To date, Pioneer has drilled nine new field discoveries in the Edwards Trend, bringing total gross discovered gas resource potential to 400 BCF to 600 BCF.

One new field discovered during the third quarter of 2007 is now believed to be the largest new field discovered in the Edwards Trend during the last 30 years with gross resource potential of approximately 150 BCF.

Pioneer has completed approximately 50% of its planned 900 square miles of 3-D seismic surveys in the trend and expects to complete the remainder of the seismic surveys by year-end 2008. Pioneer's 2008 drilling program is similar to the 2007 program and is expected to deliver an increase in average daily gas equivalent production for 2008 versus 2007 of approximately 25%.

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