PIONEER NAT RES CO
SymbolPXD

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Pioneer Natural Resources Reports Third Quarter 2009 Results

2009-11-03 17:10 ET - News Release


DALLAS -- (Business Wire)

Pioneer Natural Resources Company (NYSE:PXD) today announced financial and operating results for the quarter ended September 30, 2009.

Pioneer reported a third quarter net loss attributable to common stockholders of $7 million, or $.06 per diluted share. The loss included a noncash unrealized loss on commodity derivatives of $10 million after tax, or $.08 per diluted share. Without the effect of this item, adjusted income for the third quarter of 2009 would have been $3 million, or $.02 per diluted share.

Included in Pioneer’s third quarter results were net gains of $5 million after tax, or $.05 per diluted share related to unusual items. These after-tax unusual items included:

  • gain on the sale of Pioneer’s Gulf of Mexico Shelf properties of $12 million after tax ($.11 per diluted share),
  • hurricane-related charge of $2 million after tax ($.01 per diluted share) that is expected to be covered by insurance and
  • stacked rig charges of $6 million after tax ($.05 per diluted share).

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