EXHIBIT 99.1

                                  NEWS RELEASE

                                                               Company Contacts:
                                       Investors: Frank Hopkins or Chris Paulsen
                                      Media and Public Affairs:   Susan Spratlen
                                                                  (972) 444-9001

            Pioneer Closes Sale of Non-Strategic Canadian Properties

Dallas,  Texas,  June 1, 2005 -- Pioneer Natural  Resources  Company  (NYSE:PXD)
today  announced that its Canadian  subsidiary has closed the sale of its Martin
Creek,  Conroy Black and Lookout Butte oil and gas properties to Ketch Resources
Ltd.  (TSE:KER.UN) for proceeds after closing  adjustments of approximately $199
million.

Pioneer  expects to  recognize an after-tax  gain  associated  with the Canadian
asset sale of approximately  $75 to $80 million based on the Company's intent to
create a  repatriation  plan that  qualifies for the  provisions of the American
Jobs  Creation Act of 2004. In  accordance  with the  provisions of Statement of
Financial  Accounting  Standards  No. 144,  "Accounting  for the  Impairment  or
Disposal of Long-Lived Assets," Pioneer will report the results of operations of
the Canadian properties sold, including the gain on disposition, as discontinued
operations in its second quarter results.

Pioneer  retained its core areas in Canada,  the Chinchaga gas and the Horseshoe
Canyon coalbed gas fields. At Chinchaga, the Company drilled 56 wells during its
winter drilling campaign and has an extensive  inventory of locations  remaining
to drill in future years. Beginning in June, Pioneer plans to drill a minimum of
80 wells to assess the  potential  of its  extensive  Horseshoe  Canyon  coalbed
acreage position.

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

Except for historical  information contained herein, the statements in this News
Release are forward-looking statements that are made pursuant to the Safe Harbor
Provisions of the Private  Securities  Litigation  Reform Act of 1995.  Forward-
looking statements and the business prospects of Pioneer are subject to a number
of risks and  uncertainties  that may cause  Pioneer's  actual results in future
periods to differ materially from the  forward-looking  statements.  These risks
and uncertainties include, among other things, volatility of oil and gas prices,
product  supply  and  demand,  competition,  government  regulation  or  action,
international  operations  and associated  international  political and economic
instability,  litigation,  the costs and  results of  drilling  and  operations,
Pioneer's ability to replace reserves, implement its business plans, or complete
its  development  projects  as  scheduled,   access  to  and  cost  of  capital,
uncertainties   about   estimates  of  reserves,   quality  of  technical  data,
environmental and weather risks, acts of war or terrorism. These and other risks
are  described  in Pioneer's  10-K and 10-Q  Reports and other  filings with the
Securities and Exchange Commission.