EXHIBIT 99.1

                                  NEWS RELEASE

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



                   Pioneer Declares Dividend on Common Shares

Dallas, Texas, February 15, 2006 -- Pioneer Natural Resources Company (NYSE:PXD)
announced today that its board of directors  declared a semiannual cash dividend
of $0.12 per share on  Pioneer's  outstanding  common  stock.  The  dividend  is
payable  April 12,  2006 to  stockholders  of record at the close of business on
March 29, 2006.

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