UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 3, 2006
Pioneer Natural Resources Company
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(Exact name of Registrant as specified in its charter)
Delaware 1-13245 75-2702753
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
5205 N. O'Connor Blvd., Suite 200, Irving, Texas 75039
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(Address of principal executive offices) (Zip Code)
(972) 444-9001
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(Registrant's telephone number, including area code)
Not applicable
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
| | Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
| | Soliciting material pursuant to Rule 14a-12 under the Exchange Act(17 CFR
240.14a-12)
| | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
| | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
PIONEER NATURAL RESOURCES COMPANY
TABLE OF CONTENTS
Page
Item 2.02. Results of Operations and Financial Condition.......... 3
Item 9.01. Financial Statements and Exhibits
(d) Exhibits.......................................... 3
Signature.......................................................... 4
Exhibit Index...................................................... 5
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PIONEER NATURAL RESOURCES COMPANY
Item 2.02. Results of Operations and Financial Condition
The information in this document includes forward-looking statements that
are made pursuant to the Safe Harbor Provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements and the business
prospects of Pioneer Natural Resources Company (the "Company") are subject to a
number of risks and uncertainties that may cause the Company's actual results in
future periods to differ materially from the forward-looking statements. These
risks and uncertainties include, among other things, volatility of oil and gas
prices, product supply and demand, competition, the ability to obtain
environmental and other permits and the timing thereof, other government
regulation or action, third party approvals, international operations and
associated international political and economic instability, litigation, the
costs and results of drilling and operations, availability of drilling
equipment, Pioneer's ability to replace reserves, implement its business plans
(including its plan to repurchase stock), or complete its development projects
as scheduled, access to and cost of capital, uncertainties about estimates of
reserves, the assumptions underlying production forecasts, quality of technical
data, environmental and weather risks, acts of war or terrorism. These and other
risks are described in the Company's 2005 Annual Report on Form 10-K and
Quarterly Reports on Form 10-Q that are available from the Company or the United
States Securities and Exchange Commission.
On August 3, 2006, the Company issued a news release with financial
statements and schedules that are attached hereto as exhibit 99.1. In the news
release, the Company announced financial and operating results for the quarter
ended June 30, 2006, provided an operations update and provided the Company's
third quarter financial outlook based on current expectations.
During the second and third quarters of 2005 and the first and second
quarters of 2006, the Company divested certain Canadian and Gulf of Mexico
assets and all of its Argentine assets. In accordance with Statement of
Financial Accounting Standards No. 144, "Accounting for the Impairment or
Disposal of Long-Lived Assets" ("SFAS 144"), the Company has reflected the
current and comparative prior year results of operations of those divested
assets, net of tax, as discontinued operations rather than as components of
continuing operations. Attached hereto as Exhibit 99.2 is a schedule which
provides the Company's 2005 unaudited quarterly results of operations in
accordance with SFAS 144, wherein the historic results of operations of the
divested properties, net of tax, have been reclassified as income from
discontinued operations. Exhibit 99.2 also provides the Company's 2005 quarterly
sales volumes adjusted to exclude the sales volumes of the divested properties.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
99.1 News Release and Schedules Attached to News Release dated
August 3, 2006.
99.2 2005 Unaudited Quarterly Results Adjusted for Discontinued
Operations.
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PIONEER NATURAL RESOURCES COMPANY
S I G N A T U R E
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PIONEER NATURAL RESOURCES COMPANY
Date: August 3, 2006 By: /s/ Darin G. Holderness
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Darin G. Holderness
Vice President and Chief Accounting Officer
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PIONEER NATURAL RESOURCES COMPANY
EXHIBIT INDEX
Exhibit No. Description
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99.1(a) News Release and Schedules Attached to News Release dated
August 3, 2006.
99.2(a) 2005 Unaudited Quarterly Results Adjusted for Discontinued
Operations.
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(a) Filed herewith.
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