PIONEER NATURAL RESOURCES

10/20/2004


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Table of Contents

PIONEER NATURAL RESOURCES

Forward-Looking Statements

PPT Slide

PPT Slide

Assumptions and Definitions

U.S. Onshore Base Raton Basin - Colorado

U.S. Onshore Base Hugoton, West Panhandle, Spraberry and Pawnee

U.S. Onshore Base Production

Deepwater – Significant Value Adds

Falcon Corridor – Harrier Sidetrack

Devils Tower - No Change in Status

Existing Deepwater Production

Total U.S. Production

Argentina Overview

Argentina Production History

Projected Local Residue Gas Prices

Current Neuquen Gas Netback

Neuquen Basin Well Economics

Canada

Base Plan Production

Excess Cash Flow

DCF Rainbow Charts

Commercialization Portfolio

Olowi Field Development Concept

PPT Slide

Historical Project Steel Costs

Olowi Capital Change and Economic Effect

South Africa Gas Commercialization

Deepwater GOM Focus Areas

PPT Slide

Tunisia

West Africa Focus Area

Risked Success Plan Production

Excess Cash Flow

Uses of Excess Cash Flow

Impact of Share Repurchases

Free Cash Flow Yield

Distinguished Value Proposition

Author: Chris Paulsen