Pioneer Joins Strong Q3 Oil Lineup With Forecast-Beating Profits

Pioneer Natural Resources became the latest oil major to report bumper profits for the third quarter, exceeding analyst expectations. The result was made possible by stronger oil prices, with Pioneer enjoying an average price per barrel of $94.23 during the reporting period, the company said in a news release. The average price for gas was $7.57 per thousand cubic feet. The results will help Pioneer implement its plan to return a total of $7.5 billion to shareholders in the form of dividends and stock repurchases. Earlier this week, supermajors…