PIONEER NATURAL RESOURCES USA, INC

Profile

WHO WE ARE

Pioneer Natural Resources is a large, Texas-based independent exploration and production company that is focused on helping to meet the world’s energy needs. We deliver industry-leading production and reserve growth through onshore, unconventional, oil and gas resource development in the United States, while providing opportunities for growth and enrichment for our business partners, employees and the communities in which we operate.

As a Fortune 500 company with a track record of strong execution and prudent growth, Pioneer is focused on developing two oil-rich shale plays in Texas: the Spraberry/Wolfcamp in the Permian Basin and the Eagle Ford Shale in the southern part of the state. We are the largest producer in the Spraberry/Wolfcamp and a top operator in the Eagle Ford Shale. Additionally, Pioneer is a large natural gas producer in the West Panhandle gas field in Texas and in the coal bed methane-rich Raton Basin in southeastern Colorado.

Our Objectives

• Maintain a strong balance sheet to ensure financial flexibility in any oil price environment.
• Protect cash flow by utilizing an attractive derivatives program.
• Deliver economic production and reserve growth from our oil and gas assets.
• Utilize a vertical integration model to reduce costs and to enhance execution.
• Focus on economic growth and environmental stewardship through industry-leading sustainable development efforts.
• Enrich the communities where we work.
• Stay true to our core values, maintaining a deep sense of accountability for our decisions, actions and attitudes.

The accelerated development of unconventional resources in the past decade has put the United States in a favorable position on the journey to energy independence. In support of this initiative, Pioneer has become a public advocate of lifting the U.S. oil export ban that was implemented in the early 1970s following the Arab Oil Embargo. We will continue to proactively educate U.S. and international policymakers on the economic and national security benefits that would be gained by lifting the ban.

CORE VALUES

Pioneer's mission of responsibly finding and producing oil and natural gas resources requires we stay true to the fundamental principles on which Pioneer was built.

SUSTAINABILITY

Our specialized team of analysts track and share data on how our operations impact air, groundwater and wildlife quality to ensure a sustainable energy future for all.

SAFETY

Pioneer is committed to protecting the health and safety of everyone involved in and around our facilities and operating areas.