Pioneer Natural Resources (PXD) 8-K/A Results of Operations and Financial Condition

EXHIBIT 99.1

PIONEER NATURAL RESOURCES COMPANY

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

	June 30, 2012			December 31, 2011
ASSETS
Current assets:
Cash and cash equivalents	$	317,769		$	537,484
Accounts receivable, net	252,493			283,813
Income taxes receivable	2,417			3
Inventories	277,539			241,609
Prepaid expenses	28,213			14,263
Discontinued operations held for sale	70,177			73,349
Derivatives	308,762			238,835
Other current assets, net	26,663			12,936
Total current assets	1,284,033			1,402,292
Property, plant and equipment, at cost:
Oil and gas properties, using the successful efforts method of accounting	13,261,118			12,249,332
Accumulated depletion, depreciation and amortization	(4,013,770		)	(3,648,465		)
Total property, plant and equipment	9,247,348			8,600,867
Goodwill	298,142			298,142
Other property and equipment, net	1,134,532			573,075
Investment in unconsolidated affiliate	184,374			169,532
Derivatives	260,929			243,240
Other assets, net	160,376			160,008
	$	12,569,734		$	11,447,156
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	809,158		$	716,211
Interest payable	57,329			57,240
Income taxes payable	1,881			9,788
Current deferred income taxes	89,656			57,713
Discontinued operations held for sale	77,310			75,901
Deferred revenue	21,150			42,069
Derivatives	30,650			74,415
Other current liabilities	41,857			36,174
Total current liabilities	1,128,991			1,069,511
Long-term debt	3,285,497			2,528,905
Deferred income taxes	2,154,301			1,942,446
Derivatives	17,785			33,561
Other liabilities	226,184			221,595
Equity	5,756,976			5,651,138
	$	12,569,734		$	11,447,156