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Pioneer Natural Resources profit more than doubles as oil prices improve

May 4 (Reuters) - U.S. oil and gas producer Pioneer Natural Resources on Tuesday reported a 124% rise in first-quarter adjusted profit from the previous three months as COVID-19 vaccine rollouts and easing travel restrictions lifted crude prices.

The company said adjusted net income rose to $396 million, or $1.77 per share, for the three months ended March 31, from $177 million, or $1.07 per share, in the prior quarter.

Reporting by Arunima Kumar in Bengaluru; Editing by Sriraj Kalluvila

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