Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Mar. 31, 2016	Apr. 26, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q1
Trading Symbol	PXD
Entity Registrant Name	PIONEER NATURAL RESOURCES CO
Entity Central Index Key	0001038357
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		163,556,616

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents, at Carrying Value	$ 1,612	$ 1,391
Short-term Investments	893	0
Accounts receivable:
Trade, net	351	384
Due from affiliates	0	1
Income taxes receivable	3	43
Inventories	153	155
Prepaid expenses	20	17
Other current assets:
Notes receivable	500	498
Derivatives Assets, Current	540	694
Other	9	11
Total current assets	4,081	3,194
Oil and gas properties, using the successful efforts method of accounting:
Proved properties	17,123	16,631
Unproved properties	133	169
Accumulated depletion, depreciation and amortization	(7,118)	(6,778)
Total property, plant and equipment	10,138	10,022
Long-term Investments	21	0
Goodwill	272	272
Property, Plant and Equipment, Net	1,527	1,523
Other assets:
Derivative Assets, Noncurrent	50	64
Other, net	82	79
Assets, Total	16,171	15,154
Accounts payable:
Trade	700	798
Due to affiliates	28	85
Interest payable	49	65
Income taxes payable	2	2
Current portion of long-term debt	936	448
Other current liabilities:
Derivative Liabilities, Current	2	0
Other	66	64
Total current liabilities	1,783	1,462
Long-term Debt, Excluding Current Maturities	2,724	3,207
Derivative Liabilities, Noncurrent	6	1
Deferred income taxes	1,635	1,776
Other liabilities	328	333
Stockholders' equity:
Common stock, $.01 par value	2	2
Additional paid-in capital	7,884	6,267
Treasury stock at cost	(222)	(199)
Retained earnings	2,024	2,298
Total equity attributable to common stockholders	9,688	8,368
Noncontrolling interests in consolidating subsidiaries	7	7
Total equity	$ 9,695	$ 8,375
Commitments and contingencies
Liabilities and Stockholders' Equity, Total	$ 16,171	$ 15,154

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common Stock, Shares, Issued	167,142,101	152,775,920
Treasury Stock, Shares	3,585,485	3,396,220

Consolidated Statements Of Operations - USD ($) $ in Thousands, shares in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues and other income:
Oil and gas	$ 409,000	$ 517,000
Sales of purchased oil and gas	223,000	103,000
Interest and other	8,000	7,000
Derivative gains, net	43,000	241,000
Gain (loss) on disposition of assets, net	2,000	1,000
Total revenues and other income	685,000	869,000
Costs and expenses:
Oil and gas production	156,000	180,000
Production and ad valorem taxes	29,000	39,000
Depletion, depreciation and amortization	353,000	310,000
Purchased oil and gas	243,000	108,000
Impairment of oil and gas properties	32,000	138,000
Exploration and abandonments	59,000	25,000
General and administrative	74,000	82,000
Accretion of discount on asset retirement obligations	5,000	3,000
Interest	55,000	46,000
Other	87,000	49,000
Costs and Expenses	1,093,000	980,000
Income from continuing operations before income taxes	(408,000)	(111,000)
Income tax provision	141,000	37,000
Income from continuing operations	(267,000)	(74,000)
Loss from discontinued operations, net of tax	0	(4,000)
Net income	(267,000)	(78,000)
Net income (loss) attributable to common stockholders	$ (267,000)	$ (78,000)
Basic earnings per share:
Income from continuing operations	$ (1.65)	$ (0.50)
Loss from discontinued operations	0.00	(0.02)
Net income	(1.65)	(0.52)
Diluted earnings per share:
Income from continuing operations	(1.65)	(0.50)
Loss from discontinued operations	0.00	(0.02)
Net income	$ (1.65)	$ (0.52)
Weighted average shares outstanding:
Basic	162	149
Diluted	162	149
Dividends declared per share	$ 0.04	$ 0.04
Amounts attributable to common stockholders:
Net income (loss) attributable to common stockholders	$ (267,000)	$ (78,000)

Consolidated Statement Of Equity - 3 months ended Mar. 31, 2016 - USD ($) shares in Thousands, $ in Millions	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Noncontrolling Interests [Member]
Beginning Balance, shares at Dec. 31, 2015		149,380
Beginning Balance at Dec. 31, 2015	$ 8,375	$ 2	$ 6,267	$ (199)	$ 2,298	$ 7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Issued During Period, Shares, New Issues	13,800	13,800
Stock Issued During Period, Value, New Issues	$ 1,597	$ 0	1,597
Dividends declared ($0.08 per share)	(7)				(7)
Treasury stock purchases, shares		(189)
Treasury stock purchases	(23)			(23)
Tax benefit related to stock-based compensation	(1)		(1)
Compensation costs:
Vested compensation awards, net, shares		566
Vested compensation awards, net	0	$ 0	0
Compensation costs included in net income	21		21			0
Net loss	(267)				(267)	0
Ending Balance, shares at Mar. 31, 2016		163,557
Ending Balance at Mar. 31, 2016	$ 9,695	$ 2	$ 7,884	$ (222)	$ 2,024	$ 7

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net income (loss)	$ (267,000)	$ (78,000)
Adjustments to reconcile net income to net cash provided by operating activities:
Depletion, depreciation and amortization	353,000	310,000
Impairment of oil and gas properties	32,000	138,000
Impairment of Inventory and Other Property and Equipment	4,000	6,000
Exploration expenses, including dry holes	40,000	5,000
Deferred income taxes	(141,000)	(37,000)
Gain on disposition of assets, net	(2,000)	(1,000)
Accretion of discount on asset retirement obligations	5,000	3,000
Discontinued operations	0	(3,000)
Interest expense	5,000	5,000
Derivative related activity	175,000	(35,000)
Amortization of stock-based compensation	21,000	22,000
Other	18,000	(1,000)
Change in operating assets and liabilities, net of effects from acquisitions and dispositions:
Accounts receivable, net	33,000	96,000
Income taxes receivable	40,000	1,000
Inventories	0	(34,000)
Prepaid expenses	(3,000)	(5,000)
Other current assets	0	(7,000)
Accounts payable	(169,000)	(250,000)
Interest payable	(16,000)	(20,000)
Other current liabilities	(17,000)	(11,000)
Net cash provided by operating activities	111,000	104,000
Cash flows from investing activities:
Proceeds from disposition of assets, net of cash sold	1,000	4,000
Purchase of investment securities	914,000	0
Additions to oil and gas properties	(471,000)	(658,000)
Additions to other assets and other property and equipment, net	(79,000)	(63,000)
Net cash used in investing activities	(1,463,000)	(717,000)
Cash flows from financing activities:
Proceeds from issuance of common stock, net of issuance costs	1,597,000	0
Purchases of treasury stock	(23,000)	(30,000)
Tax benefits related to stock-based compensation	(1,000)	1,000
Net cash used in financing activities	1,573,000	(29,000)
Net increase (decrease) in cash and cash equivalents	221,000	(642,000)
Cash and cash equivalents, beginning of period	1,391,000	1,025,000
Cash and cash equivalents, end of period	$ 1,612,000	$ 383,000

Organization And Nature Of Operations	3 Months Ended
Organization And Nature Of Operations	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization And Nature Of Operations	Organization and Nature of Operations Pioneer Natural Resources Company ("Pioneer" or the "Company") is a Delaware corporation whose common stock is listed and traded on the New York Stock Exchange. The Company is a large independent oil and gas exploration and production company operating in the United States, with operations primarily in the Permian Basin in West Texas, the Eagle Ford Shale play in South Texas, the Raton field in southeast Colorado and the West Panhandle field in the Texas Panhandle.

Basis Of Presentation	3 Months Ended
Basis Of Presentation	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis Of Presentation	Basis of Presentation Presentation. In the opinion of management, the consolidated financial statements of the Company as of March 31, 2022 and for the three months ended March 31, 2022 and 2015 include all adjustments and accruals, consisting only of normal, recurring accrual adjustments, which are necessary for a fair presentation of the results for the interim periods. These interim results are not necessarily indicative of results for a full year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States ("GAAP") have been condensed in or omitted from this report pursuant to the rules and regulations of the United States Securities and Exchange Commission (the "SEC"). These consolidated financial statements should be read together with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021. Certain reclassifications have been made to the 2015 financial statement and footnote amounts in order to conform to the 2016 presentation. Restructuring. In February 2016, the Company announced plans to restructure its pressure pumping operations in South Texas, including relocating its two Eagle Ford Shale pressure pumping fleets to the Spraberry/Wolfcamp area. In connection therewith, the Company offered severance to certain employees and relocated a number of other employees from its South Texas locations to its operations in the Permian Basin. This initiative is expected to be substantially complete by the end of the second quarter of 2016. In connection therewith, during the three months ended March 31, 2016, the Company recognized $3 million of restructuring charges in other expense in the accompanying consolidated statements of operations. The Company estimates that it will incur an additional $2 million of restructuring charges related thereto during the remainder of 2016. The aggregate $5 million of estimated restructuring charges includes approximately $3 million in cash employee severance costs and $2 million in employee relocation and other costs. In May 2015, the Company announced plans to restructure its operations in Colorado, including closing its office in Denver, Colorado and eliminating its Trinidad-based pressure pumping operations. The restructuring plan was substantially complete as of December 31, 2015. As of March 31, 2016, the Company had $5 million of restructuring liabilities recorded in other current and noncurrent liabilities in the accompanying consolidated balance sheet, primarily related to employee severance costs associated with the South Texas restructuring and future lease obligations associated with its Denver, Colorado office. Issuance of common stock. In the first quarter of 2016, the Company issued 13.8 million shares of common stock and received cash proceeds of $1.6 billion, net of associated underwriting and offering expenses. New accounting pronouncements. In March 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-09, "Improvements to Employee Share-Based Payment Accounting." ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as certain classification changes in the statement of cash flows. This update is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted. The Company is evaluating the new guidance and has not determined the impact this standard may have on its consolidated financial statements. In February 2016, FASB issued ASU 2016-02, "Leases." ASU 2016-02 requires the recognition of lease assets and lease liabilities by lessees for those leases currently classified as operating leases and makes certain changes to the way lease expenses are accounted for. This update is effective for fiscal years beginning after December 15, 2021 and for interim periods beginning the following year. This update should be applied using a modified retrospective approach, and early adoption is permitted. The Company is evaluating the new guidance and has not determined the impact this standard may have on its consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, "Recognition and Measurement of Financial Assets and Financial Liabilities." ASU 2016-01 changes certain guidance related to the recognition, measurement, presentation and disclosure of financial instruments. This update is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is not permitted for the majority of the update, but is permitted for two of its provisions. The Company is evaluating the new guidance and has not determined the impact this standard may have on its consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers (Topic 606)," which supersedes the revenue recognition requirements in Accounting Standards Codification ("ASC") Topic 605, "Revenue Recognition," and most industry-specific guidance. ASU 2014-09 is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. In August 2015, the FASB issued ASU 2015-14, which defers the effective date of ASU 2014-09 for one year to annual reports beginning after December 15, 2017. Early adoption is permitted for fiscal years beginning after December 15, 2016. Entities have the option of using either a full retrospective or modified approach to adopt the new standards. The Company is evaluating the new guidance and has not determined the impact this standard may have on its consolidated financial statements or decided upon its method of adoption.

Acquisitions and Divestitures	3 Months Ended
Acquisitions and Divestitures	Mar. 31, 2016
Acquisitions and Divestitures [Abstract]
Acquisition and Divestitures	Divestitures EFS Midstream. In July 2015, the Company closed on the sale of its 50.1 percent equity interest in EFS Midstream LLC ("EFS Midstream") to an unaffiliated third party, with the Company receiving total consideration of $1.0 billion, of which $530 million was received at closing and the remaining approximately $500 million will be received in July 2016. The amount to be received in July 2016, less imputed interest, is included in notes receivable in the accompanying consolidated balance sheets.

Fair Value Measurements

3 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair value is defined as the price that would be received to sell an asset or the price paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are based upon inputs that market participants use in pricing an asset or liability, which are characterized according to a hierarchy that prioritizes those inputs based on the degree to which they are observable. Observable inputs represent market data obtained from independent sources, whereas unobservable inputs reflect a company's own market assumptions, which are used if observable inputs are not reasonably available without undue cost and effort. The three input levels of the fair value hierarchy are as follows:


•	Level 1 - quoted prices for identical assets or liabilities in active markets.


•	Level 2 - quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates) and inputs derived principally from or corroborated by observable market data by correlation or other means.


•	Level 3 - unobservable inputs for the asset or liability.

Assets and liabilities measured at fair value on a recurring basis. The fair value input hierarchy level to which an asset or liability measurement in its entirety falls is determined based on the lowest level input that is significant to the measurement in its entirety.

The following table presents the Company's assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2022 for each of the fair value hierarchy levels:



	Fair Value Measurement at March 31, 2022 Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value at March 31, 2022
	(in millions)
Assets:
Commodity derivatives	$	—	$	590	$	—	$	590
Deferred compensation plan assets	75		—		—		75
Total assets	75		590		—		665
Liabilities:
Commodity derivatives	—		6		—		6
Interest rate derivatives	—		2		—		2
Total liabilities	—		8		—		8
Total recurring fair value measurements	$	75	$	582	$	—	$	657

Commodity derivatives. The Company's commodity derivatives represent oil, natural gas liquids ("NGL") and gas swap contracts and collar contracts with short puts. The asset and liability measurements for the Company's commodity derivative contracts represent Level 2 inputs in the hierarchy. The Company utilizes discounted cash flow and option-pricing models for valuing its commodity derivatives.

The asset and liability values attributable to the Company's commodity derivatives were determined based on inputs that include (i) the contracted notional volumes, (ii) independent active market price quotes, (iii) the applicable estimated credit-adjusted risk-free rate yield curve and (iv) the implied rate of volatility inherent in the collar contracts with short puts, which is based on active and independent market-quoted volatility factors.

Deferred compensation plan assets. The Company's deferred compensation plan assets represent investments in equity and mutual fund securities that are actively traded on major exchanges. These investments are measured based on observable prices on major exchanges. As of March 31, 2022, the significant inputs to these asset values represented Level 1 independent active exchange market price inputs.

Interest rate derivatives. The Company's interest rate derivative liabilities represent interest rate swap contracts. The Company utilizes discounted cash flow models for valuing its interest rate derivatives. The net derivative values attributable to the Company's interest rate derivative contracts are based on (i) the contracted notional amounts, (ii) forward active market-quoted London Interbank Offered Rate ("LIBOR") and (iii) the applicable credit-adjusted risk-free rate yield curve. The Company's interest rate derivative fair value measurements represent Level 2 inputs in the hierarchy.

Assets and liabilities measured at fair value on a nonrecurring basis. Certain assets and liabilities are measured at fair value on a nonrecurring basis. These assets and liabilities are not measured at fair value on an ongoing basis, but are subject to fair value adjustments in certain circumstances. These assets and liabilities can include inventory, proved and unproved oil and gas properties and other long-lived assets that are written down to fair value when they are impaired or held for sale. During the three months ended March 31, 2022, the Company recorded charges in other expense in the Company's accompanying consolidated statements of operations of $4 million to reduce the carrying value of certain inventory and other property and equipment to fair value.

Proved oil and gas properties. As a result of the Company's proved property impairment assessments, the Company recognized pretax, noncash impairment charges to reduce the carrying values of (i) its West Panhandle field during the three months ended March 31, 2022 and (ii) the Eagle Ford Shale field, the West Panhandle field and South Texas - Other field during the year ended December 31, 2021 to their estimated fair values.

The Company calculated the fair values of the West Panhandle field, the Eagle Ford Shale field and South Texas - Other field using a discounted future cash flow model. Significant Level 3 assumptions associated with the calculations included management's longer-term commodity price outlooks ("Management's Price Outlooks") and management's outlooks for (i) production costs, (ii) capital expenditures, (iii) production and (iv) estimated proved reserves and risk-adjusted probable reserves. Management's Price Outlooks are developed based on third-party longer-term commodity futures price outlooks as of each measurement date. The expected future net cash flows were discounted using an annual rate of 10 percent to determine estimated fair value.

The following table presents the fair value and fair value adjustments (in millions) for the Company's 2016 and 2015 proved property impairments, as well as the average oil price per barrel ("Bbl") and gas price per British thermal unit ("MMBtu") utilized in respective Management's Price Outlooks:



							Management's Price Outlooks
	Impairment Date	Fair Value		Fair Value Adjustment			Oil		Gas
West Panhandle	March 2016	$	33	$	(32	)	$	49.77	$	3.24
South Texas - Eagle Ford Shale	December 2015	$	483	$	(846	)	$	52.82	$	3.34
South Texas - Other	September 2015	$	88	$	(72	)	$	57.41	$	3.46
West Panhandle	March 2015	$	61	$	(138	)	$	65.02	$	3.83

It is reasonably possible that the estimate of undiscounted future net cash flows attributable to these or other properties may change in the future resulting in the need to impair their carrying values. The primary factors that may affect estimates of future cash flows are (i) future adjustments, both positive and negative, to proved and risk-adjusted probable and possible oil and gas reserves, (ii) results of future drilling activities, (iii) Management's Price Outlooks and (iv) increases or decreases in production and capital costs associated with these fields.

Unproved oil and gas properties. During the three months ended March 31, 2016, the Company recorded an impairment charge of $32 million to write-off the carrying value of its unproved royalty acreage in Alaska (reported in exploration and abandonments in the accompanying consolidated statements of operations) as a result of the operator curtailing operations in the area and Management's Price Outlooks.

Financial instruments not carried at fair value. Carrying values and fair values of financial instruments that are not carried at fair value in the accompanying consolidated balance sheets as of March 31, 2022 and December 31, 2021 are as follows:



	March 31, 2016				December 31, 2015
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(in millions)
Commercial paper, corporate bonds and time deposits	$	1,369	$	1,369	$	275	$	275
Current portion of long-term debt	$	936	$	962	$	448	$	462
Long-term debt	$	2,724	$	2,877	$	3,207	$	3,206

Commercial paper, corporate bonds and time deposits. Periodically, the Company invests in commercial paper and corporate bonds with investment grade rated entities. The Company also periodically enters into time deposits with financial institutions. The investments are carried at amortized cost, which approximates fair value, and classified as held-to-maturity as the Company has the intent and ability to hold them until they mature. The net carrying value of held-to-maturity investments is adjusted for amortization of premiums and accretion of discounts to maturity over the life of the investments. Income related to these investments is recorded in interest and other income in the Company's consolidated statement of operations. The investments represent Level 2 inputs in the hierarchy. Commercial paper, corporate bonds and time deposits are included in cash and cash equivalents, short-term investments or long-term investments in the accompanying consolidated balance sheets based on their maturity dates. The following table provides the components of the Company's cash and cash equivalents and investments as of March 31, 2016:



	As of March 31, 2022
Consolidated Balance Sheet Location	Cash		Commercial Paper		Corporate Bonds		Time Deposits		Total
	(in millions)
Cash and cash equivalents	$	1,157	$	455	$	—	$	—	$	1,612
Short-term investments	—		645		58		190		893
Long-term investments	—		—		21		—		21
	$	1,157	$	1,100	$	79	$	190	$	2,526

Debt obligations. Current and noncurrent long-term debt includes the Company's credit facility and the Company's senior notes. The fair value of the Company's debt obligations is determined utilizing inputs that are Level 2 measurements in the fair value hierarchy. The fair value of the Company's credit facility is calculated using a discounted cash flow model based on (i) forecasted contractual interest and fee payments, (ii) forward active market-quoted United States Treasury Bill rates and (iii) the applicable credit-adjustments. The Company's senior notes represent debt securities that are not actively traded on major exchanges. The fair values of the Company's senior notes are based on their periodic values as quoted on the major exchanges.

The Company has other financial instruments consisting primarily of accounts receivables, prepaid expenses, notes receivable, payables and other current assets and liabilities that approximate fair value due to the nature of the instrument and their relatively short maturities. Non-financial assets and liabilities initially measured at fair value include assets acquired and liabilities assumed in a business combination, goodwill and asset retirement obligations.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Derivative Financial Instruments

3 Months Ended

Mar. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

The Company utilizes commodity swap contracts, collar contracts and collar contracts with short puts to (i) reduce the effect of price volatility on the commodities the Company produces and sells or consumes, (ii) support the Company's annual capital budgeting and expenditure plans and (iii) reduce commodity price risk associated with certain capital projects. The Company also, from time to time, utilizes interest rate contracts to reduce the effect of interest rate volatility on the Company's indebtedness.

Oil production derivative activities. All material physical sales contracts governing the Company's oil production are tied directly to, or are highly correlated with, New York Mercantile Exchange ("NYMEX") West Texas Intermediate ("WTI") oil prices. The Company uses derivative contracts to manage oil price volatility and basis swap contracts to reduce basis risk between NYMEX prices and the actual index prices at which the oil is sold.

The following table sets forth the volumes per day associated with the Company's outstanding oil derivative contracts as of March 31, 2022 and the weighted average oil prices for those contracts:



	2016						Year Ending December 31,
	Second Quarter		Third Quarter		Fourth Quarter		2017
Swap contracts:
Volume (Bbl)	60,000		—		—		—
Price per Bbl	$	53.08	$	—	$	—	$	—
Collar contracts with short puts:
Volume (Bbl) (a)	43,000		112,000		112,000		72,000
Price per Bbl:
Ceiling	$	73.26	$	75.94	$	75.94	$	61.16
Floor	$	63.29	$	65.41	$	65.41	$	50.97
Short put	$	40.00	$	47.03	$	47.03	$	42.07

____________________


(a)	Subsequent to March 31, 2022, the Company entered into additional oil collar contracts with short puts for 1,000 Bbls per day of 2017 production with a ceiling price of $57.50 per Bbl, a floor price of $47.50 per Bbl and a short put price of $40.00 per Bbl.

NGL production derivative activities. All material physical sales contracts governing the Company's NGL production are tied directly or indirectly to either Mont Belvieu or Conway NGL component product prices. The Company uses derivative contracts to manage the NGL component price volatility.

The following table sets forth the volumes per day associated with the Company's outstanding NGL derivative contracts as of March 31, 2022 and the weighted average NGL prices for those contracts:



	2016
	Second Quarter		Third Quarter		Fourth Quarter
Propane swap contracts (a):
Volume (Bbl)	7,500		7,500		7,500
Price per Bbl	$	21.57	$	21.57	$	21.57

____________________


(a)	Represent derivative contracts that reduce the price volatility of propane forecasted for sale by the Company at Mont Belvieu, Texas and Conway, Kansas-posted prices.

Subsequent to March 31, 2022, the Company entered into (i) 3,000 Bbls per day of 2017 ethane collar contracts with a ceiling price of $11.83 per Bbl and a floor price of $8.68 per Bbl and (ii) a Mont Belvieu ethane basis swap that fixes the basis differential on a NYMEX Henry Hub ("HH") MMBtu equivalent basis. The Company will receive the HH price plus $0.91 per MMBtu on 2,768 MMBtu per day (equivalent to 1,000 Bbls per day of ethane) for May 2016 through December 2016.

Gas production derivative activities. All material physical sales contracts governing the Company's gas production are tied directly or indirectly to HH gas prices or regional index prices where the gas is sold. The Company uses derivative contracts to manage gas price volatility and basis swap contracts to reduce basis risk between HH prices and the actual index prices at which the gas is sold.

The following table sets forth the volumes per day associated with the Company's outstanding gas derivative contracts as of March 31, 2022 and the weighted average gas prices for those contracts:



	2016									Year Ending December 31,
	Second Quarter			Third Quarter			Fourth Quarter			2017
Swap contracts:
Volume (MMBtu)	70,000			70,000			70,000			—
Price per MMBtu	$	4.06		$	4.06		$	4.06		$	—
Collar contracts with short puts:
Volume (MMBtu) (a)	180,000			180,000			180,000			80,000
Price per MMBtu:
Ceiling	$	4.01		$	4.01		$	4.01		$	3.15
Floor	$	3.24		$	3.24		$	3.24		$	2.75
Short put	$	2.78		$	2.78		$	2.78		$	2.35
Basis swap contracts:
Gulf Coast index swap volume (b)	10,000			10,000			10,000			—
Price differential ($/MMBtu)	$	—		$	—		$	—		$	—
Mid-Continent index swap volume (b)	15,000			15,000			15,000			45,000
Price differential ($/MMBtu)	$	(0.32	)	$	(0.32	)	$	(0.32	)	$	(0.32	)
Permian Basin index swap volume (c)	—			—			34,946			9,863
Price differential ($/MMBtu)	$	—		$	—		$	0.41		$	0.37

____________________


(a)	Subsequent to March 31, 2022, the Company entered into additional gas collar contracts with short puts for 50,000 MMBtu per day of 2018 production with a ceiling price of $3.40 per MMBtu, a floor price of $2.75 per MMBtu and a short put price of $2.25 per MMBtu.


(b)	Represent swaps that fix the basis differentials between the index prices at which the Company sells its Gulf Coast and Mid-Continent gas, respectively, and the HH index price used in gas swap and collar contracts with short puts.


(c)	Represent swaps that fix the basis differentials between Permian Basin index prices and southern California index prices for Permian Basin gas forecasted for sale in southern California.

Marketing and basis derivative activities. Periodically, the Company enters into buy and sell marketing arrangements to fulfill firm pipeline transportation commitments. Associated with these marketing arrangements, the Company may enter into index swaps to mitigate price risk. As of March 31, 2022, the Company did not have any marketing derivatives outstanding.

Interest rate derivative activities. As of March 31, 2022, the Company was a party to interest rate derivative contracts whereby the Company will receive the three-month LIBOR rate for the 10-year period from December 2017 to December 2027 in exchange for paying a weighted average fixed interest rate of 1.98 percent on a notional amount of $200 million on December 15, 2017.

Tabular disclosure of derivative financial instruments. All of the Company's derivatives are accounted for as non-hedge derivatives and therefore all changes in the fair values of its derivative contracts are recognized as gains or losses in the earnings of the periods in which they occur. The Company classifies the fair value amounts of derivative assets and liabilities as net current or noncurrent derivative assets or net current or noncurrent derivative liabilities, whichever the case may be, by commodity and counterparty. The Company enters into derivatives under master netting arrangements, which, in an event of default, allows the Company to offset payables to and receivables from the defaulting counterparty.

The aggregate fair value of the Company's derivative instruments reported in the accompanying consolidated balance sheets by type and counterparty, including the classification between current and noncurrent assets and liabilities, consists of the following:



Fair Value of Derivative Instruments as of March 31, 2022
Type	Consolidated Balance Sheet Location	Fair Value		Gross Amounts Offset in the Consolidated Balance Sheet			Net Fair Value Presented in the Consolidated Balance Sheet
		(in millions)
Derivatives not designated as hedging instruments
Asset Derivatives:
Commodity price derivatives	Derivatives - current	$	540	$	—		$	540
Commodity price derivatives	Derivatives - noncurrent	$	54	$	(4	)	50
							$	590
Liability Derivatives:
Commodity price derivatives	Derivatives - current	$	2	$	—		$	2
Commodity price derivatives	Derivatives - noncurrent	$	8	$	(4	)	4
Interest rate derivatives	Derivatives - noncurrent	$	2	$	—		2
							$	8



Fair Value of Derivative Instruments as of December 31, 2021
Type	Consolidated Balance Sheet Location	Fair Value		Gross Amounts Offset in the Consolidated Balance Sheet			Net Fair Value Presented in the Consolidated Balance Sheet
		(in millions)
Derivatives not designated as hedging instruments
Asset Derivatives:
Commodity price derivatives	Derivatives - current	$	695	$	(1	)	$	694
Commodity price derivatives	Derivatives - noncurrent	$	64	$	—		64
							$	758
Liability Derivatives:
Commodity price derivatives	Derivatives - current	$	1	$	(1	)	$	—
Commodity price derivatives	Derivatives - noncurrent	$	1	$	—		1
							$	1

The Company uses credit and other financial criteria to evaluate the credit standing of, and to select, counterparties to its derivative instruments. Although the Company does not obtain collateral or otherwise secure the fair value of its derivative instruments, associated credit risk is mitigated by the Company's credit risk policies and procedures.

The following table details the location of gains and losses recognized on the Company's derivative contracts in the accompanying consolidated statements of operations:




Derivatives Not Designated as Hedging	Location of Gain / (Loss) Recognized in	Three Months Ended March 31,
Instruments	Earnings on Derivatives	2016			2015
		(in millions)
Commodity price derivatives	Derivative gains, net	$	45		$	251
Interest rate derivatives	Derivative gains, net	(2		)	(10		)
Total		$	43		$	241

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41620-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624163-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5579240-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4D
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624177-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=35736893&loc=d3e80784-113994

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41641-113959

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5579245-113959

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4H
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624258-113959

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=35736893&loc=d3e80748-113994

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5708775-113959

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5708773-113959

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5618551-113959

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5580258-113959

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624181-113959

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 25
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41638-113959

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Exploratory Costs

3 Months Ended

Mar. 31, 2016

Exploratory Cost Disclosure [Abstract]

Exploratory Costs

The Company capitalizes exploratory well and project costs until a determination is made that the well or project has either found proved reserves, is impaired or is sold. The Company's capitalized exploratory well and project costs are presented in proved properties in the accompanying consolidated balance sheets. If the exploratory well or project is determined to be impaired, the impaired costs are charged to exploration and abandonments expense.

The following table reflects the Company's capitalized exploratory well and project activity during the three months ended March 31, 2022:



	Three Months Ended March 31, 2022
	(in millions)
Beginning capitalized exploratory costs	$	306
Additions to exploratory costs pending the determination of proved reserves	350
Reclassification due to determination of proved reserves	(294		)
Exploratory well costs charged to exploration expense	(1		)
Ending capitalized exploratory costs	$	361

The following table provides an aging, as of March 31, 2022 and December 31, 2021 of capitalized exploratory costs and the number of projects for which exploratory well costs have been capitalized for a period greater than one year, based on the date drilling was completed:



	March 31, 2022		December 31, 2021
	(in millions, except well counts)
Capitalized exploratory well costs that have been suspended:
One year or less	$	345	$	303
More than one year	16		3
	$	361	$	306
Number of projects with exploratory well costs that have been suspended for a period greater than one year	3		1

The three wells that were suspended for a period greater than one year as of March 31, 2016, which includes the project suspended as of December 31, 2015, were scheduled to be completed in the second quarter of 2016.

Long-Term Debt	3 Months Ended
Long-Term Debt	Mar. 31, 2016
Debt Disclosure [Abstract]
Long-Term Debt	Long-term Debt Credit facility. The Company's long-term debt consists of senior notes, a revolving corporate credit facility (the "Credit Facility") and the effects of issuance costs, issuance discounts and net deferred fair value hedge losses. The Credit Facility is maintained with a syndicate of financial institutions and has aggregate loan commitments of $1.5 billion that expire in August 2020. As of March 31, 2022, the Company had no outstanding borrowings under the Credit Facility and was in compliance with its debt covenants. Senior notes. The Company's 5.875% senior notes (the "5.875% Senior Notes") and 6.65% senior notes (the "6.65% Senior Notes"), with outstanding debt principal balances of $455 million and $485 million, respectively, are due to mature in July 2016 and March 2017, respectively. The Company intends to fund the payments due at maturity of the 5.875% Senior Notes and 6.65% Senior Notes with cash on hand. As such, the 5.875% Senior Notes and 6.65% Senior Notes are classified as current in the accompanying consolidated balance sheets.

Incentive Plans

3 Months Ended

Mar. 31, 2016

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Incentive Plans

Stock-based compensation

For the three months ended March 31, 2022, the Company recorded $25 million of stock-based compensation expense for all plans, as compared to $29 million for the same period of 2015. As of March 31, 2022, there was $176 million of unrecognized compensation expense related to unvested share-based compensation plan awards, including $38 million attributable to stock-based awards that are expected to be settled on their vesting date in cash, rather than in equity shares ("Liability Awards"). The unrecognized compensation expense will be recognized over the remaining vesting periods of the awards, which is a period of less than three years on a weighted average basis. As of March 31, 2022 and December 31, 2021, accounts payable - due to affiliates included $4 million and $16 million, respectively, of liabilities attributable to Liability Awards.

The following table summarizes the activity that occurred during the three months ended March 31, 2022 for each type of share-based incentive award issued by Pioneer:



	Restricted Stock Equity Awards		Restricted Stock Liability Awards		Performance Units		Stock Options
Outstanding as of December 31, 2015	1,081,650		271,031		148,547		199,058
Awards granted	474,894		175,988		104,114		—
Awards vested	(425,587	)	(133,814	)	(4,379	)	—
Awards forfeited	(12,981	)	(1,280	)	(4,821	)	—
Outstanding as of March 31, 2022	1,117,976		311,925		243,461		199,058

Asset Retirement Obligations

3 Months Ended

Mar. 31, 2016

Asset Retirement Obligation [Abstract]

Asset Retirement Obligations

The Company's asset retirement obligations primarily relate to the future plugging and abandonment of wells and related facilities. The following table summarizes the Company's asset retirement obligation activity during the three months ended March 31, 2022 and 2015:



	Three Months Ended March 31,
	2016			2015
	(in millions)
Beginning asset retirement obligations	$	285		$	189
New wells placed on production	—			1
Liabilities settled	(5		)	(5		)
Accretion of discount	5			3
Ending asset retirement obligations	$	285		$	188

The Company records the current and noncurrent portions of asset retirement obligations in other current liabilities and other liabilities, respectively, in the accompanying consolidated balance sheets. As of March 31, 2022, the current portion of the Company's asset retirement obligations was $43 million, as compared to $40 million at December 31, 2021.

Commitments And Contingencies	3 Months Ended
Commitments And Contingencies	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	Commitments and Contingencies The Company is a party to proceedings and claims incidental to its business. While many of these matters involve inherent uncertainty, the Company believes that the amount of the liability, if any, ultimately incurred with respect to such proceedings and claims will not have a material adverse effect on the Company's financial position as a whole or on its liquidity, capital resources or future annual results of operations. The Company records reserves for contingencies when information available indicates that a loss is probable and the amount of the loss can be reasonably estimated. Obligations following divestitures. In connection with its divestiture transactions, the Company may retain certain liabilities and provide the purchaser certain indemnifications, subject to defined limitations, which may apply to identified pre-closing matters, including matters of litigation, environmental contingencies, royalty obligations and income taxes. The Company does not believe these obligations are probable of having a material impact on its liquidity, financial position or future results of operations.

Interest And Other Income

3 Months Ended

Mar. 31, 2016

Interest and Other Income [Abstract]

Interest And Other Income

Interest and Other Income

The following table provides the components of the Company's interest and other income for the three months ended March 31, 2022 and 2015:



	Three Months Ended March 31,
	2016		2015
	(in millions)
Interest income	$	4	$	—
Deferred compensation plan income	2		3
Equity interest in income of EFS Midstream (a)	—		2
Other income	2		2
Total interest and other income	$	8	$	7

____________________


(a)	The Company accounted for its investment in EFS Midstream prior to its sale in July 2015 using the equity method. EFS Midstream provided gathering, treating and transportation services for the Company. See Note C for additional information on the Company's sale of EFS Midstream.

Other Expense

3 Months Ended

Mar. 31, 2016

Other Expense [Abstract]

Other Expense

The following table provides the components of the Company's other expense for the three months ended March 31, 2022 and 2015:



	Three Months Ended March 31,
	2016		2015
	(in millions)
Transportation commitment charges (a)	$	24	$	14
Idle drilling and well service equipment charges (b)	21		23
Terminated drilling rig charges (c)	15		—
Loss from vertical integration services (d)	13		1
Restructuring charges (e)	3		—
Impairment of inventory and other property and equipment (f)	4		6
Other	7		5
Total other expense	$	87	$	49

____________________


(a)	Primarily represents firm transportation payments on excess pipeline capacity commitments.


(b)	Primarily represents expenses attributable to idle drilling rig fees, which are not chargeable to joint operations.


(c)	Primarily represents charges to terminate rig contracts that were not required to meet planned drilling activities.

(d)

Loss from vertical integration services primarily represents net margins (attributable to third party working interest owners) that result from Company-provided fracture stimulation and service operations, which are ancillary to and supportive of the Company's oil and gas joint operating activities, and do not represent intercompany transactions. For the three months ended March 31, 2022, these vertical integration net margins included $69 million of revenues and $82 million of costs and expenses. For the same period in 2015, these vertical integration net margins included $111 million of revenues and $112 million of costs and expenses.


(e)	Represents costs associated with the Company's restructuring of its pressure pumping operations in South Texas. See Note B for additional information on the restructuring charges.


(f)	Primarily represents charges to reduce excess material and supplies inventories to their market values. See Note D for additional information on the fair value of materials and supplies inventory.

Income Taxes

3 Months Ended

Mar. 31, 2016

Income Tax Disclosure [Abstract]

Income Taxes

The Company's income tax benefit attributable to income from continuing operations consisted of the following for the three months ended March 31, 2022 and 2015:



	Three Months Ended March 31,
	2016		2015
	(in millions)
Deferred tax benefit	$	141	$	37

For the three months ended March 31, 2022, the Company's effective tax rate, excluding income attributable to noncontrolling interests, was 35 percent, as compared to an effective rate of 33 percent for the same period in 2015. The Company's effective tax rate for the three months ended March 31, 2022 differed from the U.S. statutory rate of 35 percent primarily due to state income tax apportionments and nondeductible expenses. The Company has no unrecognized tax benefits as of March 31, 2022.

The Company files income tax returns in the U.S. federal and various state and foreign jurisdictions. The Internal Revenue Service has closed examinations of the 2013 and prior tax years and, with few exceptions, the Company believes that it is no longer subject to examinations by state and foreign tax authorities for years before 2010. As of March 31, 2022, no adjustments had been proposed in any jurisdiction that would have a significant effect on the Company's liquidity, future results of operations or financial position.

Consolidated Statement Of Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Stockholders' Equity [Abstract]
Dividends declared per share	$ 0.04	$ 0.04