EXHIBIT 99.3


                                  NEWS RELEASE

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


                      Pioneer Announces Redemption of Notes


Dallas,  Texas,  October 3, 2005 -- Pioneer Natural Resources Company (NYSE:PXD)
announced  that today it has  redeemed  for cash all of its  outstanding  9-5/8%
Senior Notes due 2010 and 7.50% Senior  Notes due 2012 (the  "Notes").  The cash
payment  to  redeem  the  Notes  included  the  make-whole  premium,  which  was
determined on September 28, 2005,  plus accrued and unpaid  interest to, but not
including,  October 3, 2005. In total,  Pioneer paid $34.6 million in connection
with the redemption of the Notes.

Associated  with the  redemption  of the Notes and the recently  completed  debt
tender offer for the Company's  5.875%  Senior Notes due 2012,  the Company will
recognize a pre-tax  charge of  approximately  $14 million in its reported third
quarter of 2005 results.

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