Pioneer Natural -2.1% AH as Q4 swings to loss on writedowns

|About: Pioneer Natural Resources C... (PXD)|By:, SA News Editor

Pioneer Natural Resources (PXD) -2.1% AH after reporting an unadjusted Q4 loss of $1.37B, or $9.82/share, including of $1.5B loss related to discontinued operations and assets held for sale, vs. a year-ago profit of $28M, or $0.22/share, a year earlier.

Forecasts 14%-19% production growth from continuing operations in 2014 based on planned drilling capital expenditures of $3B; growth will be second-half weighted as PXD ramps up its drilling program in the northern Spraberry/Wolfcamp from five rigs at year-end 2013 to 16 rigs by the end of Q1.

Added proved reserves of 141M boe during 2013, equating replacement of 211% of PXD's FY 2013 production of 67M boe.