Pioneer Energy Services (PES) Tops Q2 EPS by 2c

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Go back to Pioneer Energy Services (PES) Tops Q2 EPS by 2c

Pioneer Energy Services Reports Second Quarter 2015 Results

July 30, 2015 6:00 AM EDT

SAN ANTONIO, July 30, 2015 /PRNewswire/ -- Pioneer Energy Services (NYSE: PES) today reported financial and operating results for the quarter ended June 30, 2015. Notable items for the second quarter and recent developments include: 

Well servicing rig utilization was 73% with average pricing of $595 per hour. Drilling utilization in the second quarter was 63% based on an average fleet of 37 rigs. Year-to-date sold 27 mechanical and lower horsepower electric drilling rigs for net proceeds of $33.4 million and have one additional rig designated as held-for-sale. Mobilizing the second of five new-build 1,500... More