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                                                                  EXHIBIT 23.1




                         CONSENT OF INDEPENDENT AUDITORS

We consent to the reference to our firm under the caption "Experts" in the
Registration Statement (Form S-3) and related Prospectuses of Prize Energy Corp.
for the registration of 9,558,403 warrants to purchase shares of its common
stock, 1,365,486 shares of common stock issuable upon exercise of the warrants
and 286,461 shares of common stock and to the incorporation by reference therein
of our reports dated February 16, 2001, with respect to the consolidated
financial statements of Prize Energy Corp., and September 3, 1999, with respect
to the statements of revenues and direct operating expenses for the producing
properties acquired by Prize Energy Corp. from Pioneer Natural Resources USA,
Inc., included in Prize Energy Corp.'s Annual Report on Form 10-K for the year
ended December 31, 2000.

                                             /s/ ERNST & YOUNG LLP

Forth Worth, Texas
July 5, 2001