Despite posting a loss for the second quarter, Pioneer Natural Resources said it would increase its capital budget for the second half and add more rigs. Pioneer said it lost $218 million in the second quarter, joining its peers struggling to generate revenue during the downturn in the crude oil market. Chairman and Chief Executive Officer Scott Sheffield said in a statement the company was seeing benefits from operations focused largely in the Spraberry/Wolfcamp shale basin in Texas. “As a result, we are putting rigs back to work and plan to return to an activity level during 2016 that can result in a similar growth trajectory that we were delivering in the second half of 2014 before the downturn,” he said […]