Pioneer lost $1.4 billion in the fourth quarter, with an impairment of $957 million to reduce the carrying value of proved gas properties in Colorado's Raton basin as a result of a decline in long-term Nymex strip gas prices.
Excluding this write down and other items, Pioneer reported adjusted fourth-quarter income of $140 million.
Included in the non-cash charges was a $507 million after-tax loss associated with "discontinued operations and assets held for sale".
Pioneer
