Pioneer Natural Resources Company is a company engaged in hydrocarbon exploration headquartered in Irving, Texas. It operates in the Cline Shale, which is part of the Spraberry Trend of the Permian Basin, where the company is the largest acreage holder.
The company is ranked 341st on the Fortune 500.
As of December 31, 2020, the company had 1.271 billion barrels of oil equivalent of proved reserves, of which 53% was petroleum, 25% was natural gas liquids, and 22% was natural gas. In 2020, the company produced 341 thousand barrels of oil equivalent per day, of which 61% was petroleum, 21% was natural gas liquids, and 18% was natural gas.
Pioneer Natural Resources was created in 1997 by the merger of Parker & Parsley Petroleum Company and MESA Inc., owned by T. Boone Pickens.
In 2002, Pioneer made discoveries in its offshore Oooguruk field, west of Prudhoe Bay, Alaska. In 2008, Pioneer became the first independent operator to produce oil on the Alaska North Slope. These holdings were sold for $550 million in 2013.
In 2004, Pioneer Natural Resources acquired Evergreen Resources in a $2.1 billion transaction.
In June 2010, the company announced a $1.15 billion midstream joint venture with Reliance Industries for assets in the Eagle Ford Group. The business was sold to Enterprise Products Partners for $2.15 billion in 2015.