Pioneer Natural Swings to Q3 Loss on Hedging Charges

Pioneer Natural Resources Co , one of the largest oil producers in the Permian Basin of West Texas and New Mexico, said on Wednesday it swung to a quarterly loss due to hedging charges.

 

The company posted a third-quarter net loss of $23 million, or 13 cents per share, compared to a net profit of $22 million, or 13 cents per share, in the year-ago period.

 

Production rose about 15 percent to 275,711 barrels of oil equivalent per day. Pioneer boosted its 2017 capital budget by 2 percent to $2.75 billion.


(Reporting by Ernest Scheyder)