PIONEER NATURAL RESOURCES CO

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Pioneer Natural Resources Co. operates as an independent oil and gas exploration and production company. The company is headquartered in Irving, Texas and currently employs 2,076 full-time employees. The firm explores for, develops and produces oil, natural gas liquids (NGLs) and gas in the Midland Basin in West Texas. The firm conducts exploitation and exploration activities in the Spraberry/Wolfcamp oil field located in the Midland Basin in West Texas. The firm holds approximately 964 thousand gross acres, of which 948 thousand gross acres are located in the Spraberry/Wolfcamp field in the Midland Basin of West Texas. The firm has a joint venture with Sinochem Petroleum USA LLC, which encompasses approximately 212 thousand gross acres. The oil produced from the Spraberry/Wolfcamp field in the Midland Basin is West Texas Intermediate Sweet, and the gas produced is casinghead gas with an average energy content of 1,400 British thermal unit (Btu). The oil and gas are produced primarily from six formations, including Spraberry, Jo Mill, Dean, Wolfcamp, Strawn and Atoka.