U.S. shale producer Pioneer Natural Resources Co. (NYSE: PXD) reported adjusted profit of $1.18 per share in the fourth quarter, down from $1.22 in the same quarter of the prior year, the company said Feb. 13.
The Irving, Texas-based company, which operates in the Permian Basin, collected revenue of $2.68 billion in the fourth quarter compared with $1.53 billion in the same period the prior year.
Pioneer produced 320,000 barrels of oil equivalent per day (boe/d) in the fourth quarter, compared with 305,000 boe/d in the same period the year before. Average prices fell to $38.16 per barrel of oil equivalent from $38.68 the year before.
The company forecasts first-quarter production between 315,000 boe/d and 331,500 boe/d.
Its net income attributable to common stockholders was $324 million in the fourth quarter, compared with $665 million in the same period the year before.
Pioneer shares were down nearly 5% in after-hours trading at $139.15 per share on the decline.
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