EXHIBIT 99.1



                                  NEWS RELEASE


                      Investor Relations Contact: Susan Spratlen (972) 444-9001


                   Pioneer Declares Dividend on Common Shares


Dallas,   Texas,   February  18,  2004  --  Pioneer  Natural  Resources  Company
("Pioneer")  (NYSE:PXD)  announced  that on  February  16,  2004,  its  board of
directors  declared a semi-annual  cash dividend of $0.10 per share on Pioneer's
outstanding common stock. The dividend is payable April 13, 2004 to stockholders
of record at the close of business on March 29, 2004.

Pioneer is a large  independent oil and gas  exploration and production  company
with operations in the United States,  Argentina,  Canada,  Gabon,  South Africa
and Tunisia.  Pioneer's headquarters are in Dallas. For more information,  visit
Pioneer's website at www.pioneernrc.com.