Pioneer Natural Resources Posts Third-quarter Profit

U.S. shale producer Pioneer Natural Resources Co. reported a third-quarter profit on Nov. 6, driven by higher output and a one-time gain from divestiture of assets.

Net income attributable to the company was $411 million, or $2.39 per share, in the quarter ended Sept. 30, compared with a loss of $23 million, or 13 cents per share, a year earlier.

The company had a reported a $161 million loss on hedging in the year-ago quarter.