Pioneer Natural Resources Company (Pioneer) is a holding company. Pioneer is an independent oil and gas exploration and production company engaged in exploration development and production of oil and gas reserves. The Company also sells homogenous oil, natural gas liquid (NGL) and gas. The Company conducts its business is through its subsidiaries. Its properties are in Permian Basin in West Texas, the Eagle Ford Shale play in South Texas, the Raton field in southeastern Colorado, the Hugoton field in southwest Kansas and the West Panhandle field in the Texas Panhandle. The Company performs horizontal drilling in the Spraberry/Wolfcamp oil field located in West Texas and the Eagle Ford Shale field located in South Texas. Additionally, the Company has oil and gas production activities and development opportunities in the Raton gas field located in southern Colorado.