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U.S. shale producer Pioneer Natural Resources Co (PXD.N) reported a rise in quarterly profit on Wednesday, as a sustained recovery in energy demand from the pandemic-driven lows lifted oil prices to multi-year highs.
The company said fourth-quarter net income attributable to common stockholders rose to $763 million, or $2.97 per share, for the three months Dec. 31, from $43 million, 26 cents per share, a year earlier.
Pioneer said its average fourth-quarter sales volume rose to 687,143 barrels of oil equivalent per day (boepd) from 364,482 boepd a year earlier.
Source: (Reuters)
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