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 17, 2005 -- Pioneer Natural Resources Company (NYSE:PXD)
announced today that its board of directors  declared a semiannual cash dividend
of $0.10 per share on Pioneer's outstanding common stock. As per Pioneer's usual
schedule,  the dividend is payable April 15, 2005 to  stockholders  of record at
the close of business on March 31, 2005.

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