ࡱ;   !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~Root Entry \pCalc Ba=* =@ 8X@"1Calibri1Arial1Arial1Arial1Calibri General3._(\$* #,##0_);_(\$* \(#,##0\);_(\$* \-_);_(@_) #,##0\(#,##0_);[RED]\(#,##0\)!"($"#,##0_);[RED]"($"#,##0\);6_(\$* #,##0.00_);_(\$* \(#,##0.00\);_(\$* \-??_);_(@_)'""($"#,##0.00_);[RED]"($"#,##0.00\)#\(#,##0.00_);[RED]\(#,##0.00\)#,##0.00                + ) , *   ( (8   $  $  (  $  $  $  $  $ (8  $ `!+pioneer natural resources".securities registered pursv1 signatures"6unaudited condensed consol"BLconsolidated income statemjconsolidated cash flows"(unaudited summary producti$Punaudited summary producti-1"unaudited supplementary ea"ڭunaudited supplemental non$0unaudited supplemental non-1$pioneer natural resources -1$bpioneer natural resources -2$Xpioneer natural resources -3$pioneer natural resources -4$pioneer natural resources -5$pioneer natural resources -6"Runaudited supplemental inf$ pioneer natural resources -7,proved reserves$*"unaudited supplemental inf-1TT    3  @@   "PIONEER NATURAL RESOURCES CO MPANYDelaware1-13245 75-27027530(State or other jurisdiction of incorporation)(Commission File Number)&(I.R.S. Employer Identification No.);Securities registered pursuant to Section 12(b) of the Act:Title of each classTrading Symbol)Name of each exchange on which registered&Common Stock, par value $.01 per sharePXDNew York Stock Exchange SIGNATURES!PIONEER NATURAL RESOURCES COMPANYBy:/s/ Margaret M. MontemayorMargaret M. Montemayor+Vice President and Chief Accounting OfficerDate:February 16, 2022/UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETSDecember 31, 2021December 31, 2020ASSETSCurrent assets:Cash and cash equivalentsRestricted cashAccounts receivable, net InventoriesInvestment in affiliateShort-term investment OtherTotal current assetsIOil and gas properties, using the successful efforts method of accounting4Accumulated depletion, depreciation and amortization!Total oil and gas properties, net!Other property and equipment, net#Operating lease right-of-use assetsGoodwill Other assetsLIABILITIES AND EQUITYCurrent liabilities:Accounts payableInterest payableIncome taxes payable!Current portion of long-term debt DerivativesOperating leasesTotal current liabilitiesLong-term debtDeferred income taxesOther liabilitiesEquityConsolidated Income StatementThree Months Ended December 31, Twelve Months Ended December 31,20212020Revenues and other income: Oil and gasSales of purchased commodities%Interest and other income (loss), netDerivative loss, net)Gain (loss) on disposition of assets, netCosts and expenses:Oil and gas productionProduction and ad valorem taxes(Depletion, depreciation and amortizationPurchased commoditiesExploration and abandonmentsGeneral and administrative5Accretion of discount on asset retirement obligationsInterest!Income (loss) before income taxesIncome tax benefit (provision)5Net income (loss) attributable to common stockholders@Net income (loss) per share attributable to common stockholders:BasicDiluted$Weighted average shares outstanding:Consolidated Cash Flows%Cash flows from operating activities:Net income (loss)XAdjustments to reconcile net income (loss) to net cash provided by operating activities:Exploration expenses)Loss (gain) on disposition of assets, net)Loss on early extinguishment of debt, netInterest expenseDerivative-related activity(Amortization of stock-based compensation Investment valuation adjustments9South Texas contingent consideration valuation adjustment*South Texas deficiency fee obligation, netKChange in operating assets and liabilities, net of effects of acquisitions:Accounts receivable)Net cash provided by operating activities3Net cash provided by (used in) investing activities3Net cash provided by (used in) financing activities:Net increase in cash, cash equivalents and restricted cash?Cash, cash equivalents and restricted cash, beginning of period9Cash, cash equivalents and restricted cash, end of period3UNAUDITED SUMMARY PRODUCTION, PRICE AND MARGIN DATAAverage Daily Sales Volume: Oil (Bbls)#Natural gas liquids ("NGLs") (Bbls) Gas (Mcf) Total (BOE)Average Price: Oil per Bbl NGLs per Bbl Gas per McfTotal per BOEMargin Data ($ per BOE):Average priceProduction costs6UNAUDITED SUPPLEMENTARY EARNINGS PER SHARE INFORMATION"Participating share-based earnings;Basic net income (loss) attributable to common stockholderspAdjustment to after-tax interest expense to reflect the dilutive impact attributable to convertible senior notes=Diluted net income (loss) attributable to common stockholders)Basic weighted average shares outstanding.Contingently issuable stock-based compensation!Convertible senior notes dilution+Diluted weighted average shares outstanding2UNAUDITED SUPPLEMENTAL NON-GAAP FINANCIAL MEASURESIncome tax provision (benefit) EBITDAX (a)Cash interest expense&Current income tax (provision) benefitDiscretionary cash flow (b)Cash exploration expense+Changes in operating assets and liabilities>UNAUDITED SUPPLEMENTAL NON-GAAP FINANCIAL MEASURES (continued)$Three Months Ended December 31, 2021RefAfter-tax AmountsPer Diluted Share.Net income attributable to common stockholdersNoncash MTM adjustments:%Derivative gain ($1.1 billion pretax)$Investment loss ($20 million pretax)/Adjusted loss excluding noncash MTM adjustmentsUnusual items:3Loss on disposition of assets ($1.1 billion pretax)(a)PLoss on early settlement of commodity derivative contracts ($508 million pretax)(b)-Divestiture-related costs ($3 million pretax)(c)1Acquisition transaction costs ($2 million pretax)(d)CAdjusted income excluding noncash MTM adjustments and unusual items%Twelve Months Ended December 31, 2021%Derivative gain ($451 million pretax)#Investment gain ($1 million pretax)1Adjusted income excluding noncash MTM adjustments3Acquisition transaction costs ($251 million pretax)5Winter Storm Uri gas commitments ($80 million pretax)(e)8Loss on early extinguishment of debt ($2 million pretax)(f) Net income"After-tax noncash MTM adjustments:Derivative gain, netInvestment gain, netAfter-tax unusual items:Loss on disposition of assetsAcquisition transaction costs:Loss on early settlement of commodity derivative contracts Winter Storm Uri gas commitmentsDivestiture-related costs$Loss on early extinguishment of debtMAfter-tax adjusted income excluding noncash MTM adjustments and unusual itemsAfter-tax interest expenseROCE earningsAs of December 31, 2021Average total equity (a)Average net debt (b)Capital employedROCE percentage17%As of December 31, Total equityLess: Net incomePlus: ROCE earningsAdjusted total equityAverage total equityLess:Net debtAverage net debtzDeferred obligations on early settlement of commodity derivative contracts and changes in operating assets and liabilitiesBAcquisition transaction costs (excluding stock-based compensation)Less: Capital expenditures (a)Free cash flowCosts incurredLess: Excluded items (a)5Plus: Other property, plant and equipment capital (b)Capital expenditures"UNAUDITED SUPPLEMENTAL INFORMATION2022First QuarterSecond QuarterThird QuarterFourth Quarter?Average daily oil production associated with derivatives (Bbl):!Midland/WTI basis swap contracts: Volume (a)Price differentialAAverage daily gas production associated with derivatives (MMBtu):Dutch TTF swap contracts:VolumePriceWAHA swap contracts:$ NYMEX collar contracts:Price:CeilingFloor WAHA/NYMEX basis swap contracts: Volume (b)Noncash changes in fair value:Oil derivative gain, netGas derivative gain (loss), netMarketing derivative gain, net"Total noncash derivative gain, netINet cash payments/deferred obligations on settled derivative instruments:5Oil derivative payments/deferred obligations, net (a)5Gas derivative payments/deferred obligations, net (b)"Marketing derivative payments, netOTotal cash payments/deferred obligations on settled derivative instruments, netTotal derivative loss, netPROVED RESERVESTotal Company Oil (MBbls):Balance as of December 31, 2020Revisions of previous estimatesPurchases of minerals-in-placeExtensions and discoveries ProductionSales of minerals-in-placeBalance as of December 31, 2021Natural Gas Liquids (MBbls):Natural Gas (MMcf):Production (b)Equivalent Barrels (MBOE):#Revisions of previous estimates (a)Extensions and discoveries (b)Production (c)(in millions)4Costs incurred for oil and gas producing activities:Property acquisition costs:ProvedUnprovedExploration costsDevelopment costsTotal costs incurred (a)"Reserve replacement percentage (b)592%+Drillbit reserve replacement percentage (c)163%BFinding and development costs <per BOE of proved reserves added (d)KDrillbit finding and development costs per BOE of proved reserves added (e)UDrillbit finding and development costs per BOE of proved developed reserves added (f) cc  d-C6?_%,*+&ffffff?'ffffff?(?)?" d,, ` `? ` `?U}  , , @             :PH0(  >@<dgg  d-C6?_%,*+&ffffff?'ffffff?(?)?" d,, ` `? ` `?U}  , , ,                 J   PH 0(  >@<dgg  d-C6?_%,*+&ffffff?'ffffff?(?)?" d,, ` `? ` `?U}  , , , , @ , , , , ,                         "$                 PH0 0(   >@<dgg  d-C6?_%,*+&ffffff?'ffffff?(?)?" d,, ` `? ` `?U} 0 , , , , , , , , , , , , , , , , , , , , , , ,           ~ < ~     ~  ~     ~ V  ~     ~   ~    ~  ~    ~    !  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