U.S. Markets open in 4 hrs 34 mins

Pioneer Natural to buy back $2 bln of shares

Dec 13 (Reuters) - U.S. shale producer Pioneer Natural Resources said on Thursday it would buy back $2 billion worth of its shares.

The new plan replaces Pioneer's prior $100 million share buyback program announced in February 2018.

Chief Executive Officer Timothy Dove said the plan was consistent with the priorities of the company's ten-year plan.

Shares of the Irving, Texas-based company were nearly flat in after market trading. Stock has fallen more than 18 percent this year. (Reporting by John Benny in Bengaluru; Editing by Anil D'Silva)