Fracker Pioneer posts wider second-quarter loss on derivatives

U.S. oil producer Pioneer Natural Resources Co posted a second-quarter net loss on Wednesday that widened from a year earlier on $229 million in losses on derivatives it uses to insulate its revenues from volatile oil prices. Pioneer, known for its aggressive hedging programme and for being one of the most efficient oil producers in the Permian Basin of West Texas, said its second quarter net loss was $268 million, wider than $218 million a year ago. It was the first time in a year that the comp