Dallas-based Pioneer reported a net loss of $267 million ($1.65 per share) on revenue of$685 million compared to a net loss of $78 million (52 cents per share) on revenue of $869 million for the same period a year ago.
The 2016 results include impairments of $163 million (1.01 per share) for the value of derivative contracts, certain oil and gas properties and termination of long-term drilling rig contracts.
Pioneer’s
