May 2, 2018 / 8:47 PM / 6 months ago

Pioneer Natural swings to 1st-quarter profit on rising oil prices

HOUSTON, May 2 (Reuters) - U.S. shale oil producer Pioneer Natural Resources Co swung to a first-quarter profit thanks to rising oil prices and production, it said on Wednesday.

The company posted net income of $178 million, or $1.04 per share, compared with a net loss of $42 million, or 25 cents per share, in the year-ago period.

Production rose 25 percent to 312,000 barrels of oil equivalent per day. (Reporting by Ernest Scheyder Editing by Susan Thomas)

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