EXHIBIT 99.1


                                  NEWS RELEASE

                    Investor Relations Contact: Susan Spratlen   (972) 444-9001

              Pioneer Provides Update to First Quarter Outlook and
                        Announces Recent Drilling Results

Dallas,  Texas, March 30, 2004 -- Pioneer Natural Resources Company  ("Pioneer")
(NYSE:PXD)  today  updated its first  quarter  2004 outlook for  production  and
exploration and abandonment  expense based on current  expectations  and partial
quarter actual results.  The following statements are estimates based on current
expectations. These forward- looking statements are subject to a number of risks
and  uncertainties  that may  cause  the  Company's  actual  results  to  differ
materially  from the  following  statements.  The last  paragraph  of this  news
release addresses certain of the risks and uncertainties to which the Company is
subject.

The Company  expects that its first quarter 2004 production will be near the top
end of its prior  guidance  range and average  approximately  180,000 to 183,000
barrels  oil  equivalent  per day.  Production  from the  Falcon  gas system has
exceeded  expectations  for the  quarter as the Harrier  field  began  producing
earlier in January than originally forecasted.  Oil and gas sales from Argentina
have  exceeded  expectations.  Demand for gas has  remained  strong  through the
summer  season,  and gas prices may  improve as a result of  recently  announced
increases in utility  rates that are  expected to take effect by  mid-year.  Oil
production  from South Africa is at the high end of  expectations as a result of
an additional cargo shipment during the quarter.

First  quarter   exploration   and   abandonment   expense  is  expected  to  be
approximately $72 million to $88 million.  Pioneer participated in two deepwater
Gulf of  Mexico  wells  during  the  quarter  that were  unsuccessful,  the Juno
prospect  (25%  working  interest)  and the Myrtle Beach  prospect  (10% working
interest).  Pioneer holds a 12.5% working interest in a well currently  drilling
on the Thunder Hawk  prospect  and expects  results  during the second  quarter.
Offshore Gabon, Pioneer drilled an unsuccessful wildcat exploration well testing
its Dentale  prospect  on acreage  outside the  boundaries  of its Olowi  field.
Exploration   and   abandonment   costs  for  the  quarter   will  also  include
approximately  $15  million  to  $17  million  for  seismic  related  to  future
exploration activities and administrative expenses.

On April 1, Pioneer expects to close an acquisition of approximately $20 million
of Spraberry field  properties from a private party.  The deepwater Devils Tower
field is on  schedule  for first oil  production  during the latter  part of the
second quarter, and two satellite fields in the Falcon gas system,  Tomahawk and
Raptor,  are currently  ahead of schedule and are expected to begin producing by
the end of the second quarter.

Pioneer is a large  independent oil and gas  exploration and production  company
with operations in the United States, Argentina, Canada, Gabon, 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
Document  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  Natural
Resources  Company 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,  foreign  currency  valuation
changes,  foreign government tax and regulation changes,  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.