Delaware
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1-13245
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75-2702753
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(State or other jurisdiction of
incorporation)
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(Commission
File Number)
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(I.R.S. Employer
Identification No.)
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5205 N. O'Connor Blvd., Suite 200, Irving, Texas
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75039
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(Address of principal executive offices)
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(Zip Code)
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Three Months Ended
June 30, 2010
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|
Six Months Ended
June 30, 2010
|
||
Noncash changes in fair value:
|
|
|
|
|
|
|||
|
Oil derivative gains
|
$
|
135,990
|
|
$
|
185,596
|
||
|
NGL derivative gains
|
|
7,782
|
|
|
21,203
|
||
|
Gas derivative gains (losses)
|
|
(21,689)
|
|
|
172,838
|
||
|
Interest rate derivative gains
|
|
24,159
|
|
|
33,538
|
||
|
|
Total noncash derivative gains, net
|
|
146,242
|
|
|
413,175
|
|
|
|
|
|
|
|
|
|
|
Cash settled changes in fair value:
|
|
|
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|||
|
Oil derivative losses
|
|
(5,613)
|
|
|
(12,068)
|
||
|
NGL derivative losses
|
|
(772)
|
|
|
(3,852)
|
||
|
Gas derivative gains
|
|
36,836
|
|
|
44,036
|
||
|
Interest rate derivative gains
|
|
835
|
|
|
1,713
|
||
|
|
Total cash derivative gains, net
|
|
31,286
|
|
|
29,829
|
|
|
|
|
Total derivative gains, net
|
$
|
177,528
|
|
$
|
443,004
|
|
|
|
|
2010
|
|
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||||
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Third Quarter
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Fourth Quarter
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2011
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2012
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|
2013
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|
2014
|
||||||
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Oil Derivatives (BBLs):
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|
|
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|
|
|
|
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|
|
|
|
|
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|||
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Swap Contracts:
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|
|
|
|
|
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|
|
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||
|
|
Volume
|
|
2,500
|
|
|
2,500
|
|
|
750
|
|
|
3,000
|
|
|
3,000
|
|
|
-
|
|
|
|
NYMEX price
|
$
|
93.34
|
|
$
|
93.34
|
|
$
|
77.25
|
|
$
|
79.32
|
|
$
|
81.02
|
|
$
|
-
|
|
|
Collar Contracts:
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|
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|
Volume
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|
-
|
|
|
-
|
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2,000
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|
|
-
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|
|
-
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|
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-
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|
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NYMEX price:
|
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Ceiling
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$
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-
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|
$
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-
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$
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170.00
|
|
$
|
-
|
|
$
|
-
|
|
$
|
-
|
|
|
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Floor
|
$
|
-
|
|
$
|
-
|
|
$
|
115.00
|
|
$
|
-
|
|
$
|
-
|
|
$
|
-
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|
Collar Contracts with Short Puts:
|
|
|
|
|
|
|
|
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|
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||
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Volume
|
|
30,000
|
|
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30,250
|
|
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34,250
|
|
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28,000
|
|
|
1,250
|
|
|
-
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|
NYMEX price (a):
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|
|
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Ceiling
|
$
|
84.99
|
|
$
|
85.09
|
|
$
|
99.27
|
|
$
|
120.59
|
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$
|
111.50
|
|
$
|
-
|
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Floor
|
$
|
68.37
|
|
$
|
68.38
|
|
$
|
73.83
|
|
$
|
80.54
|
|
$
|
83.00
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$
|
-
|
|
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Short Put
|
$
|
55.23
|
|
$
|
55.23
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|
$
|
59.36
|
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$
|
65.00
|
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$
|
68.00
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$
|
-
|
NGL Derivatives (BBLs):
|
|
|
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Swap Contracts:
|
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|
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|
|
|
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|
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|
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Volume
|
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1,250
|
|
|
1,250
|
|
|
750
|
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|
750
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|
-
|
|
|
-
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|
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Blended index price (b)
|
$
|
47.38
|
|
$
|
47.38
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$
|
34.65
|
|
$
|
35.03
|
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$
|
-
|
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$
|
-
|
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Collar Contracts:
|
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|
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||
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Volume
|
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2,000
|
|
|
2,000
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|
1,000
|
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|
-
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|
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-
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|
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-
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Index price (b):
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Ceiling
|
$
|
49.98
|
|
$
|
49.98
|
|
$
|
50.93
|
|
$
|
-
|
|
$
|
-
|
|
$
|
-
|
|
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Floor
|
$
|
41.58
|
|
$
|
41.58
|
|
$
|
42.21
|
|
$
|
-
|
|
$
|
-
|
|
$
|
-
|
|
Collar Contracts with Short Puts:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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||
|
|
Volume
|
|
2,000
|
|
|
2,000
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
|
Index price (b):
|
|
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|
|
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|
|
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|
|
|
|
|
|
|
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Ceiling
|
$
|
58.92
|
|
$
|
58.92
|
|
$
|
-
|
|
$
|
-
|
|
$
|
-
|
|
$
|
-
|
|
|
|
Floor
|
$
|
47.64
|
|
$
|
47.64
|
|
$
|
-
|
|
$
|
-
|
|
$
|
-
|
|
$
|
-
|
|
|
|
Short Put
|
$
|
38.71
|
|
$
|
38.71
|
|
$
|
-
|
|
$
|
-
|
|
$
|
-
|
|
$
|
-
|
Gas Derivatives (MMBtu):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|||
|
Swap Contracts:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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||
|
|
Volume
|
|
167,500
|
|
|
167,500
|
|
|
97,500
|
|
|
80,000
|
|
|
67,500
|
|
|
50,000
|
|
|
|
NYMEX price (c)
|
$
|
6.26
|
|
$
|
6.26
|
|
$
|
6.32
|
|
$
|
5.93
|
|
$
|
6.11
|
|
$
|
6.05
|
|
|
Collar Contracts:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
||
|
|
Volume
|
|
40,000
|
|
|
40,000
|
|
|
-
|
|
|
40,000
|
|
|
-
|
|
|
-
|
|
|
|
NYMEX price (c):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Ceiling
|
$
|
7.19
|
|
$
|
7.19
|
|
$
|
-
|
|
$
|
6.96
|
|
$
|
-
|
|
$
|
-
|
|
|
|
Floor
|
$
|
5.75
|
|
$
|
5.75
|
|
$
|
-
|
|
$
|
5.00
|
|
$
|
-
|
|
$
|
-
|
|
Collar Contracts with Short Puts:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
Volume
|
|
95,000
|
|
|
95,000
|
|
|
200,000
|
|
|
190,000
|
|
|
45,000
|
|
|
50,000
|
|
|
|
NYMEX price (c):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ceiling
|
$
|
7.94
|
|
$
|
7.94
|
|
$
|
8.55
|
|
$
|
7.96
|
|
$
|
7.49
|
|
$
|
8.08
|
|
|
|
Floor
|
$
|
6.00
|
|
$
|
6.00
|
|
$
|
6.32
|
|
$
|
6.12
|
|
$
|
6.00
|
|
$
|
6.00
|
|
|
|
Short Put
|
$
|
5.00
|
|
$
|
5.00
|
|
$
|
4.88
|
|
$
|
4.55
|
|
$
|
4.50
|
|
$
|
4.50
|
|
Basis Swap Contracts:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
Spraberry Index Swaps volume - (d)
|
|
30,000
|
|
|
13,424
|
|
|
-
|
|
|
2,500
|
|
|
2,500
|
|
|
-
|
|
|
|
Price differential ($/MMBtu)
|
$
|
(0.20)
|
|
$
|
(0.35)
|
|
$
|
-
|
|
$
|
(0.30)
|
|
$
|
(0.31)
|
|
$
|
-
|
|
|
|
Mid-Continent Index Swaps volume - (d)
|
|
190,000
|
|
|
183,370
|
|
|
100,000
|
|
|
20,000
|
|
|
10,000
|
|
|
-
|
|
|
|
Price differential ($/MMBtu)
|
$
|
(0.82)
|
|
$
|
(0.84)
|
|
$
|
(0.71)
|
|
$
|
(0.78)
|
|
$
|
(0.71)
|
|
$
|
-
|
|
|
|
Gulf Coast Index Swaps volume - (d)
|
|
45,000
|
|
|
41,685
|
|
|
20,000
|
|
|
20,000
|
|
|
-
|
|
|
-
|
|
|
|
Price differential ($/MMBtu)
|
$
|
(0.19)
|
|
$
|
(0.22)
|
|
$
|
(0.17)
|
|
$
|
(0.17)
|
|
$
|
-
|
|
$
|
-
|
(a)
|
Include NYMEX and Dated Brent average prices of U.S. and foreign production.
|
(b)
|
Represents blended Mont Belvieu index price or respective NGL component prices per Bbl.
|
(c)
|
Represents the NYMEX Henry Hub index price or approximate NYMEX Henry Hub index price based on historical differentials to the index price on the derivative trade date.
|
(d)
|
Represent swaps that fix the basis differentials between indices at which the Company sells its Spraberry, Mid-Continent and Gulf Coast gas and NYMEX Henry Hub index prices.
|
PIONEER NATURAL RESOURCES COMPANY
|
|||
By:
|
/s/ Frank W. Hall
|
||
Frank W. Hall,
|
|||
Vice President and Chief
|
|||
Accounting Officer
|
|||
Dated: July 20, 2010
|