Pioneer Natural Resources has Quarterly Loss on Writedowns

Pioneer Natural Resources Co on Tuesday reported a quarterly net loss compared with profit a year ago as the company wrote down the value of oil and gas assets due to low commodity prices.

 

Pioneer's first-quarter loss of $78 million, or 52 cents per share, compared with $123 million, or 85 cents per share in the year-earlier periods.

 

Sales volumes averaged 194,000 barrels oil equivalent per day (boed), up 17 percent from the 2014 first quarter.