About Pioneer Natural Resources Company

Oil and gas explorer Pioneer Natural Resources' frontier is not on the Western prairies, but below ground in the oil and gas basins of West Texas, a gas basin in the Southern Rocky Mountains, and elsewhere. The large independent exploration and production company reported proved reserves of about 664.4 million barrels of oil equivalent in 2015. The vast majority of the company's reserves are found in Texas (primarily in the oil rich and relatively low cost Permian Basin oil fields) and in Colorado (the Raton gas field). Pioneer Natural Resources has stakes in more than 9,794 net producing wells.


The company is engaged in oil and gas exploration and production. In 2015 Pioneer Natural Resources drilled 870 gross (719 net) development wells, 99% of which were successfully completed as productive wells (for a total drilling cost of $3.9 billion).

Geographic Reach

Pioneer Natural Resource operations are primarily the liquid-rich West Panhandle fields (Wolfcamp/Spraberry) in Texas; the Raton gas field in Colorado; and the Edwards gas field in South Texas. It also has assets in the Texas Panhandle.

Sales and Marketing

In 2015 Plains Marketing accounted for 22% of Pioneer Natural Resources' revenues; Occidental Energy Marketing, 18%; and Enterprise Products Partners, 12%.

Financial Performance

In 2015 Pioneer Natural Resources' net revenues were $4.83 billion, a decrease of 5% over 2014 due to lower oil, NGL, and gas prices, partially offset by higher oil and gas sales volumes.

Net loss was $273 million, a drop of 129% (compared to net income in 2014) due to the impairment of oil and gas properties of $1.05 billion.

In 2015 cash from operating activities was $1.24 billion, 47% down on 2014.


Pioneer Natural Resources' revenues come from its Texas and Colorado operations where the oil firm focuses on exploiting low-risk, long-lived basins. The strategies employed to achieve this mission are predicated on maintaining financial flexibility, capital allocation discipline and enhancing net asset value through accretive drilling programs, joint ventures, and acquisitions. It also pursues derivative arrangements covering a portion of its oil, NGL, and gas production.

The company is also selling non-core properties to pay down debt.

To raise cash, in 2015 Pioneer Natural Resources sold its Eagle Ford Shale midstream business to Enterprise Products Operating for about $2.2 billion. It restructured its operations in Colorado, closing its office in Denver, Colorado and eliminating its Trinidad-based pumping services operations. The sale of the Eagle Ford assets allowed the company to strategically redeploy capital to its core, oil-rich Spraberry/Wolfcamp assets in the Permian Basin.

Securing funding to expand its drilling program, and to pay down debt, in 2014 the company also sold its Hugoton field assets in Kansas to Linn Energy for $340 million. That year, Pioneer Natural Resources also sold its Alaska subsidiary to Caelus Energy Alaska LLC for $300 million.

In 2014, the company completed the sale of its majority interest in Sendero Drilling for $31 million, and sold proved and unproved properties in Gaines and Dawson counties in the Spraberry field in West Texas for $72 million. It also sold its interest in unproved oil and gas properties adjacent to the company's West Panhandle field operations for $38 million.

Mergers and Acquisitions

In 2016 Pioneer Natural Resources signed an agreement with Devon Energy to acquire 28,000 net acres in the Midland Basin for $435 million. As a result of this deal and improving oil prices, it expects to increase its horizontal rig count by five rigs from 12 rigs to 17 rigs in the northern Spraberry/Wolfcamp play.

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Pioneer Natural Resources Company

5205 N O'Connor Blvd Ste 200
Irving, TX 75039
Phone: 1 (972) 444-9001
Fax: 1 (972) 571-5063


  • Employer Type: Public
  • Stock Symbol: PXD
  • Stock Exchange: NYSE
  • President, CEO, and Director: Timothy L. Dove
  • President, CEO, and Director: Timothy L. Dove
  • Chairman: Scott D. Sheffield
  • 2016 Employees: 3,604

Major Office Locations

  • Irving, TX

Other Locations

  • Bakersfield, CA
  • Riverside, CA
  • San Juan Capistrano, CA
  • Colorado Springs, CO
  • Trinidad, CO
  • Glenford, OH
  • Howard, OH
  • Alvord, TX
  • Brady, TX
  • Midkiff, TX
  • Midland, TX
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