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PIONEER NATURAL RESOURCES Pioneer Natural Resources Reports Second Quarter 2021 Financial and Operating Results News Release Dallas , Texas , August 2 , 2021 - Pioneer Natural Resources Company ( NYSE : PXD ) ( " Pioneer " or " the Company " ) today reported financial and operating results for the quarter ended June 30 , 2021. Pioneer reported second quarter net income attributable to common stockholders of $ 380 million , or $ 1.54 per diluted share . These results include the effects of noncash mark - to - market adjustments and certain other unusual items . Excluding these items , non - GAAP adjusted income for the second quarter was $ 629 million , or $ 2.55 per diluted share . Cash flow from operating activities for the second quarter was $ 1.5 billion . Highlights Delivered strong second quarter free cash flow¹ of $ 616 million Accelerated and increased variable dividend program ; future variable dividend payments² up to 75 % of prior quarter's free cash flow after deducting the base dividend paid during the quarter Declared inaugural variable dividend of $ 1.51 per share to be paid during the third quarter ; represents approximately 75 % of second quarter free cash flow after deducting the base dividend paid in April Averaged second quarter oil production of 363 thousand barrels of oil per day ( MBOPD ) , in the upper half of guidance Averaged second quarter production of 629 thousand barrels of oil equivalent per day ( MBOEPD ) , near the top end of guidance CEO Scott D. Sheffield stated , " Pioneer delivered a strong quarter as we integrated Double Point operations into our asset base , while continuing to execute one of the most efficient capital programs in the industry . We are witnessing strong oil demand growth as the global macroeconomic environment continues to improve , with a corresponding improvement in commodity prices . As a result of the improved commodity