1
EXHIBIT 11.1
PIONEER NATURAL RESOURCES COMPANY
STATEMENT OF COMPUTATION OF EARNINGS PER SHARE
Per Share
Income Shares Amount(a)
----------- ------- ---------
(in thousands)
DECEMBER 31, 1998
Basic EPS:
Loss available to common stockholders $ (746,426) 100,055 $ (7.46)
=========
Effect of Dilutive Securities -- --
----------- -------
Diluted EPS:
Loss available to common stockholders plus
assumed dilutive conversions $ (746,426) 100,055 $ (7.46)
=========== ======= =========
DECEMBER 31, 1997
Basic EPS:
Loss available to common stockholders $ (890,671) 51,973 $ (17.14)
=========
Effect of Dilutive Securities -- --
----------- -------
Diluted EPS:
Loss available to common stockholders plus
assumed dilutive conversions $ (890,671) 51,973 $ (17.14)
=========== ======= =========
DECEMBER 31, 1996
Basic EPS:
Income available to common stockholders $ 140,248 35,475 $ 3.95
=========
Effect of Dilutive Securities:
Options/restricted stock -- 394
Preferred shares 7,683 6,714
---------- -------
Diluted EPS:
Income available to common stockholders plus
assumed conversions $ 147,931 42,583 $ 3.47
========== ======= =========
- -----------
(a) For 1998 and 1997, the computation of diluted net loss per share was
antidilutive; therefore, the amounts reported for basic and diluted net loss
per share were the same.