They ONLY lost 2 BILLION this year!!
Best part , they covered some at recent highs!
Pxd should only buy puts
Pioneer Natural Resources (NYSE:PXD) discloses $501M in net losses from oil and gas hedging in Q3, according to an 8-K filing.
The Q3 results bring Pioneer's total hedging losses for the year to September 30 to $2.02B.
Most of the losses were due to payments to settle oil derivative contracts, which totaled $427M for Q3 and $1.3B YTD, the filing says.
Pioneer says it liquidated nearly 30K bbl/day of derivative contracts in the first few weeks of October.