August 6, 2019 / 8:25 PM / 11 days ago

Pioneer Natural Resources adjusted profit rises 40% on higher production

Aug 6 (Reuters) - Pioneer Natural Resources Co reported a 40% rise in quarterly adjusted profit on Tuesday, as the Permian pure-play oil producer benefited from higher output.

Adjusted net income rose to $340 million, or $2.01 per share, in the second quarter ended June 30, from $243 million, or $1.41 per share, a year earlier.

Production averaged 334,167 barrels of oil equivalent per day (boepd), up from 327,704 boepd a year earlier. (Reporting by Debroop Roy in Bengaluru; Editing by Shinjini Ganguli)

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