Pioneer Natural Resources Co., balance sheet: property, plant and equipment

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Proved properties	43,387)	38,465)	34,454)	23,934)	22,444)
Unproved properties	5,785)	6,008)	6,063)	576)	584)
Oil and gas properties, using the successful efforts method of accounting	49,172)	44,473)	40,517)	24,510)	23,028)
Other property and equipment	2,077)	2,029)	2,007)	2,047)	2,014)
Property and equipment, at cost	51,249)	46,502)	42,524)	26,557)	25,042)
Accumulated depletion, depreciation and amortization	(18,060)	(15,214)	(12,648)	(10,534)	(8,965)
Property and equipment, net	33,189)	31,288)	29,876)	16,023)	16,077)

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Item	Description	The company
Property and equipment, at cost	Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Pioneer Natural Resources Co. property and equipment, at cost increased from 2021 to 2022 and from 2022 to 2023.
Property and equipment, net	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Pioneer Natural Resources Co. property and equipment, net increased from 2021 to 2022 and from 2022 to 2023.

Pioneer Natural Resources Co., asset age ratios

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
	Average age ratio	35.24%	32.72%	29.74%	39.67%	35.80%

Asset age ratio	Description	The company
Average age ratio	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Pioneer Natural Resources Co. average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Accumulated depletion, depreciation and amortization	18,060)	15,214)	12,648)	10,534)	8,965)
Property and equipment, at cost	51,249)	46,502)	42,524)	26,557)	25,042)
Asset Age Ratio
Average age¹	35.24%	32.72%	29.74%	39.67%	35.80%

2023 Calculations

¹ Average age = 100 × Accumulated depletion, depreciation and amortization ÷ Property and equipment, at cost
= 100 × 18,060 ÷ 51,249 = 35.24%

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Asset age ratio	Description	The company
Average age	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Pioneer Natural Resources Co. average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

Pioneer Natural Resources Co. (NYSE:PXD)

Analysis of Property, Plant and Equipment