Financial Performance - The company reported average NYMEX oil prices of $82.64 per Bbl and NYMEX gas prices of $6.26 per Mcf for the three months ended December 31, 2022, compared to $77.19 per Bbl and $5.84 per Mcf for the same period in 2021, indicating a year-over-year increase in prices[34]. - In 2022, the company's oil, NGL, and gas sales to significant purchasers accounted for 23%, 14%, 12%, and 10% of total revenues, highlighting reliance on a few key customers[44]. - The company aims to maintain a strong balance sheet and financial flexibility while returning free cash flow to shareholders through stable and growing dividends and share repurchases[32]. - The company’s return of capital strategies, including dividends and share repurchase programs, are subject to board discretion and market conditions[86]. - The company incurred total costs of $4,120 million in 2022, including $3,161 million in exploration costs and $625 million in development costs[221]. Operational Strategy - The company’s long-term strategy is anchored by its interests in the Spraberry/Wolfcamp oil field, which has an estimated remaining productive life of over 55 years[30]. - The company regularly reviews its asset base to identify nonstrategic assets for divestiture, aiming to enhance operational efficiencies and capital resources[37]. - The company’s production marketing strategies are aligned with industry practices, negotiating sales prices based on market conditions and commodity quality[40]. - The company plans to operate 24 to 26 horizontal drilling rigs and six to seven frac fleets in the Midland Basin in 2023[225]. - The company successfully completed 393 horizontal wells and seven vertical wells in the non-JV portion of the Midland Basin during 2022[223]. Workforce and Employee Engagement - As of December 31, 2022, the company employed 2,076 individuals, with 900 in field operations, reflecting its operational scale[51]. - The Company offers a comprehensive benefits program, including up to 12 weeks of paid parental leave for primary caregivers and 2 weeks for secondary caregivers[56]. - In 2022, the Company achieved a 76% participation rate in its annual employee engagement survey, ranking in the top 10% of companies using the same platform[65]. - The Company employs a 70/20/10 learning model for employee development, focusing on 70% on-the-job experience, 20% collaboration and coaching, and 10% formal training[60]. Environmental, Social, and Governance (ESG) Initiatives - The company’s ESG Task Force is focused on integrating climate-related risks into its governance and business strategy, aiming for long-term net zero emissions[50]. - The Company has established long-term diversity, equity, and inclusion goals, with senior leadership accountable for progress in their departments[57]. - The Company has set an aspirational long-term net zero emissions ambition for Scope 1 and Scope 2, with interim targets to reduce methane emissions intensity by 75% and GHG emissions intensity by 50% by 2030 from a 2019 baseline[178]. - The Company aims to maintain a flaring intensity standard of less than 1% of gas produced and end routine flaring by 2030, with an aspirational goal to achieve this by 2025[178]. - The Company faces potential litigation or government investigations regarding the sufficiency of its ESG disclosures, which could negatively impact its reputation and operations[179]. Regulatory and Compliance Risks - The Company is subject to extensive federal, state, and local regulations, which can impact profitability and operational costs[66]. - The company is subject to stringent environmental regulations that could increase operational costs and restrict business activities[86]. - The Texas Railroad Commission has imposed regulations on produced water disposal due to seismic activity concerns, which could affect the Company's operations[139]. - The Company must obtain numerous environmental and oil and gas-related permits, which may incur substantial costs and could delay project development[183]. - The SEC has proposed a rule mandating extensive disclosure of climate risks for U.S.-listed public companies, which may lead to additional compliance costs for the Company[172]. Market and Commodity Price Risks - The prices of oil, NGLs, and gas are highly volatile, and future declines could reduce the carrying value of the company's proved oil and gas properties[86]. - The company’s actual production and cash flows may differ materially from estimates due to uncertainties in reserve estimation and future commodity prices[111]. - The company’s ability to produce oil, NGLs, and gas economically may be adversely affected by significant or extended price declines, potentially leading to downward adjustments in estimated proved reserves[147]. - The company expects continued price volatility for oil and gas due to factors such as global economic conditions and geopolitical events[226]. - In 2022, Brent oil prices ranged from a high of $127.98 to a low of $76.10 per barrel, while NYMEX gas prices ranged from a high of $9.68 to a low of $3.72 per MMBtu, indicating significant price volatility[146]. Asset Management and Reserves - As of December 31, 2022, the Company carried unproved oil and gas property costs of $6.0 billion, which are subject to periodic evaluation for impairment[165]. - The Company had a carrying value for goodwill of $243 million as of December 31, 2022, assessed for impairment annually and whenever circumstances indicate potential impairment[166]. - As of December 31, 2022, the company's total proved reserves were 2,376,628 MBOE, with 89% developed and 11% undeveloped[218]. - The company's proved developed reserves increased to $34,763 million in 2022 from $24,992 million in 2021, while proved undeveloped reserves rose to $3,629 million from $2,692 million[219]. - The pre-tax present value of proved reserves discounted at 10% audited by NSAI was 98% for 2022, compared to 96% for 2021 and 100% for 2020[212].

Financial Performance - Net income attributable to common stockholders for Q2 2022 was $2.4 billion ($9.30 per diluted share), up from $380 million ($1.54 per diluted share) in Q2 2021, reflecting a $2.0 billion increase in oil and gas revenues due to a 69% rise in average realized commodity prices per BOE [158]. - Oil and gas revenues for Q2 2022 reached $4.639 billion, a 73% increase from $2.682 billion in Q2 2021, with total revenues for the first half of 2022 at $8.570 billion, up from $4.505 billion in the same period of 2021 [173]. - The company reported a net loss of $56 million in interest and other income for Q2 2022, compared to a loss of $20 million in Q2 2021 [179]. - Gain on disposition of assets increased to $36 million in Q2 2022 from $2 million in Q2 2021, primarily due to divestments in the Midland Basin [190]. - The income tax provision increased significantly from $120 million in H1 2021 to $657 million in H1 2022, driven by a $2.5 billion increase in income before income taxes [218]. - Net cash provided by operating activities rose from $1,843 million in H1 2021 to $5,805 million in H1 2022, an increase of $3,962 million [227]. Production and Sales - Average daily sales volumes increased by 2% to 642,844 BOEPD in Q2 2022 compared to 629,468 BOEPD in Q2 2021, driven by successful horizontal drilling and production from the DoublePoint Acquisition [158]. - The company expects average daily production for Q3 2022 to be between 635 - 660 MBOE, with average daily oil production projected at 345 - 360 MBbls [164]. - The company successfully completed 214 horizontal wells in the Midland Basin during the first half of 2022, with 51% of these wells being Spraberry interval wells [171]. - The company entered into long-term marketing contracts to purchase and sell 40,000 barrels of oil per day starting May 2022 and 30,000 barrels per day starting August 2022 [186]. Costs and Expenses - Production costs per BOE for Q3 2022 are estimated to be between $12.00 - $13.50, with DD&A costs projected at $10.50 - $12.00 [164]. - Oil and gas production costs rose to $478 million in Q2 2022, up from $316 million in Q2 2021, marking a $162 million increase [192]. - Total production costs per BOE increased by 48% to $8.18 in Q2 2022 from $5.51 in Q2 2021, with lease operating expenses rising by 22% and gathering, processing, and transportation expenses increasing by 70% [195]. - Lease operating expense per BOE increased by 22% to $3.71 for the three months ended June 30, 2022, compared to $3.05 in 2021 [195]. - Gathering, processing, and transportation expense per BOE rose by 70% to $4.53 for the three months ended June 30, 2022, compared to $2.66 in 2021 [195]. - Workover costs per BOE surged by 162% to $1.02 for the three months ended June 30, 2022, compared to $0.39 in 2021 [195]. - Production and ad valorem taxes increased by 118% to $271 million for the three months ended June 30, 2022, compared to $153 million in 2021 [198]. Dividends and Share Repurchases - The company declared and paid variable dividends of $2.3 billion, or $9.60 per common share, during the six months ended June 30, 2022 [230]. - The company paid base dividends of $530 million, or $1.56 per common share, in H1 2022, compared to $213 million, or $1.11 per common share, in H1 2021 [229]. - The Company paid dividends of $2.9 billion in 2022, including a quarterly base dividend of $1.10 per share and a variable dividend of $7.47 per share declared on August 2, 2022 [40][233]. - The company repurchased 2.1 million shares for $499 million during Q2 2022, compared to no share repurchases in Q2 2021 [162]. Capital Expenditures and Financial Position - The capital budget for 2022 was revised to a range of $3.6 billion to $3.8 billion, up from the previous range of $3.3 billion to $3.6 billion, due to inflation impacts [223]. - As of June 30, 2022, the company had unrestricted cash of $2.6 billion and $2.0 billion of unused borrowing capacity under its Credit Facility [225]. - The company expects to fund its 2022 capital budget primarily from operating cash flow and cash on hand [224]. - The company redeemed $1.3 billion of its outstanding senior notes during the six months ended June 30, 2022 [231]. Commodity Prices and Derivatives - Average oil prices for Q2 2022 were $108.41 per Bbl, up from $66.07 per Bbl in Q2 2021, while average gas prices increased to $6.76 per Mcf from $2.83 per Mcf [160]. - Noncash derivative gain for commodity price derivatives was $72 million in Q2 2022, a significant recovery from a loss of $279 million in Q2 2021 [183]. - The company experienced a total commodity derivative loss of $3 million in Q2 2022, a substantial improvement from a loss of $836 million in Q2 2021 [183]. - The company’s derivative obligations as of June 30, 2022, represented net liabilities of $442 million, including $167 million related to offsetting oil and gas commodity derivative trades [245]. Other Financial Metrics - Cash interest expense decreased by 20.5% to $31 million for the three months ended June 30, 2022, compared to $39 million in 2021 [212]. - The weighted average cash interest rate on the Company's indebtedness decreased to 1.8% for the six months ended June 30, 2022, compared to 1.9% in 2021 [213]. - The effective tax rate for Q2 2022 was 22%, a decrease of 2% from 24% in Q2 2021 [218]. - Other expenses decreased from $47 million in Q2 2021 to $5 million in Q2 2022, primarily due to $36 million in transaction costs related to acquisitions [215].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number: 1-13245 ______________________________ PIONEER NATURAL RESOURCES COMPANY (Exact name of Regis ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-13245 PIONEER NATURAL RESOURCES COMPANY (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation) (I. ...

Financial Performance - Net income attributable to common stockholders for Q3 2021 was $1.0 billion ($4.07 per diluted share), a significant increase from a net loss of $85 million ($0.52 per diluted share) in Q3 2020 [184]. - Cash provided by operating activities surged to $2.0 billion in Q3 2021 from $391 million in Q3 2020, driven by increased oil and gas revenues [193]. - The company reported a total commodity derivative loss of $496 million for Q3 2021, compared to a loss of $56 million in Q3 2020, and a total loss of $1,996 million for the nine months ended September 30, 2021, compared to a loss of $41 million in the same period in 2020 [212]. - The income tax provision for the three months ended September 30, 2021 was $(291) million, a decrease of $306 million compared to $15 million in 2020, with an effective tax rate of 22% compared to 15% in 2020 [241][242]. - For the nine months ended September 30, 2021, net cash provided by operating activities was $3,835 million, an increase of $2,289 million compared to $1,546 million in the same period of 2020 [250]. Revenue and Sales - Oil and gas revenues increased by $2.4 billion due to an 87% rise in average realized commodity prices per BOE and a 90% increase in daily sales volumes to 675,793 BOEPD, compared to 354,968 BOEPD in Q3 2020 [184]. - Sales of purchased commodities for Q3 2021 were $1,679 million, an increase of $744 million compared to Q3 2020, while for the nine months ended September 30, 2021, sales reached $4,507 million, up $2,116 million from the same period in 2020 [207]. Acquisitions and Investments - The company completed the acquisition of DoublePoint for $4.2 billion in stock, $1.0 billion in cash, and $890 million in assumed debt, with results included in financial statements from May 2021 [182]. - The acquisition of Parsley Energy involved issuing 52 million shares valued at $6.9 billion and assuming $3.2 billion in debt, with results included from January 2021 [183]. - The company incurred $943 million in net cash used for the DoublePoint Acquisition and $894 million in additions to oil and gas properties for the nine months ended September 30, 2021 [251]. Production and Costs - Average oil prices rose to $69.24 per Bbl in Q3 2021, up 77% from $39.22 per Bbl in Q3 2020, while NGL and gas prices increased by 111% and 133%, respectively [203]. - Oil and gas production costs for Q3 2021 were $323 million, significantly higher than $163 million in Q3 2020, with production costs per BOE increasing to $5.18 from $4.99 year-over-year [218]. - Production and ad valorem taxes for the three months ended September 30, 2021, were $179 million, compared to $63 million in 2020, representing a 184% increase [222]. - Lease operating expense per BOE decreased by 17% to $2.49 in Q3 2021 compared to $3.00 in Q3 2020, while gathering, processing, and transportation expense per BOE increased by 24% to $3.15 [218]. Debt and Liquidity - As of September 30, 2021, the company had $581 million in unrestricted cash and $2.0 billion of unused borrowing capacity under its Credit Facility [248]. - The Company had $6.9 billion of fixed rate long-term debt outstanding with a weighted average cash interest rate of 1.9 percent as of September 30, 2021 [270]. - The annual weighted average cash interest rate on the company's indebtedness decreased to 1.9% as of September 30, 2021, from 2.2% in 2020 [236]. Dividends - The company paid base dividends of $350 million, or $1.67 per share, during the nine months ended September 30, 2021, and initiated a variable dividend strategy, paying $370 million, or $1.51 per share [254][255]. - Future base and variable dividends are at the discretion of the company's board of directors and may fluctuate based on commodity prices and free cash flow [257]. Exploration and Development - The company successfully completed 318 horizontal wells in the Midland Basin during the nine months ended September 30, 2021 [201]. - The company drilled and evaluated 378 exploration/extension wells in the nine months ended September 30, 2021, with a 100% success rate [229]. Market Outlook - Average forward Brent oil price for the fourth quarter of 2021 is projected at $77.53, while the average forward WTI Midland oil price is $74.59 [275]. - The average forward NYMEX gas price for the fourth quarter of 2021 is projected at $5.93 [275]. - The Company utilizes derivative financial instruments to mitigate commodity price risk and secure funds for capital programs and other obligations [271].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________ FORM 10-Q ______________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Delaware 75-2702753 777 Hidden Ridge Irving, Texas 75038 (Address of principal executive offices and zip code) (972) 444- ...

Financial Performance - The Company reported a net loss of $70 million ($0.33 per diluted share) for Q1 2021, a decrease of $361 million compared to a net income of $291 million ($1.75 per diluted share) in Q1 2020[160]. - Cash provided by operating activities decreased to $377 million in Q1 2021 from $825 million in Q1 2020, primarily due to increased cash used in derivative activities and one-time transaction costs[166]. - Net cash provided by operating activities decreased to $377 million in Q1 2021 from $825 million in Q1 2020, a decline of 54%[210]. - The effective tax rate decreased to 14% in Q1 2021 from 21% in Q1 2020, reflecting an $88 million change in income tax provision[203]. - Interest and other income (loss), net, improved significantly to $60 million in Q1 2021 from a loss of $206 million in Q1 2020, a change of $266 million[179]. Revenue and Sales - Oil and gas revenues increased by $729 million due to a 33% rise in average realized commodity prices per BOE and a 26% increase in daily sales volumes[160]. - Average daily sales volumes increased by 26% to 473,937 BOEPD in Q1 2021, compared to 375,163 BOEPD in Q1 2020, driven by the Parsley Acquisition and successful horizontal drilling[166]. - For the three months ended March 31, 2021, sales of purchased commodities increased to $1,240 million from $915 million in 2020, a change of $325 million[177]. Production and Costs - Oil and gas production costs rose to $252 million in Q1 2021 from $176 million in Q1 2020, an increase of $76 million[187]. - Production and ad valorem taxes increased to $113 million in Q1 2021 from $75 million in Q1 2020, a change of $38 million[188]. - Depletion, depreciation, and amortization expense increased to $474 million in Q1 2021 from $434 million in Q1 2020, a change of $40 million[191]. - Lease operating expense per BOE increased by 5% to $3.47, while gathering, processing, and transportation expense per BOE rose by 21% to $3.05[187]. Capital Expenditures and Budget - The 2021 capital budget has been revised to a range of $3.1 billion to $3.4 billion, with $2.9 billion to $3.1 billion allocated for drilling and completion activities[168]. - The company funded the DoublePoint Acquisition with $1 billion in cash and 27.2 million shares of common stock, repaying $241 million of DoublePoint's credit facility[207]. Debt and Liquidity - As of March 31, 2021, the Company's net debt to book capitalization was 23%, up from 14% as of December 31, 2020[166]. - The company had unrestricted cash of $668 million and $2.0 billion of unused borrowing capacity as of March 31, 2021[209]. - The company has $6.2 billion of fixed-rate long-term debt outstanding with a weighted average effective interest rate of 2.0 percent as of March 31, 2021[221]. Derivative and Commodity Risk Management - The company mitigates commodity price risk through derivative financial instruments and had entered into contracts for a portion of forecasted 2021 and 2022 production[226]. - The company has established credit risk policies to mitigate exposure to counterparties, ensuring that credit losses on commodities receivables have historically not been material[234]. - The company utilizes ISDA Agreements with derivative counterparties to manage credit risk and ensure rights of set-off in case of default[236]. Exploration and Development - The company successfully completed 77 horizontal wells in the northern Midland Basin and 25 in the southern Midland Basin during Q1 2021[173]. - The company drilled and evaluated 106 exploration/extension wells in Q1 2021, achieving a 100% success rate, compared to 83 wells in Q1 2020, also with a 100% success rate[193]. Other Expenses - Other expenses rose significantly to $304 million in Q1 2021 from $85 million in Q1 2020, an increase of $219 million, primarily due to $197 million in one-time costs related to the Parsley Acquisition[200]. - Cash interest expense increased to $33 million in Q1 2021 from $22 million in Q1 2020, a change of $11 million[198]. Future Outlook - The Company expects average daily production for Q2 2021 to be between 606 - 632 MBOE, with average daily oil production projected at 352 - 367 MBO[167]. - Average forward Brent oil price for the third quarter of 2021 was $62.32, while for the fourth quarter it was $61.06, indicating a downward trend[227].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-13245 PIONEER NATURAL RESOURCES COMPANY (Exact name of registrant as specified in its charter) Delaware 75-2702753 (State or other jurisdiction o ...