Pioneer Energy Services (PES) Misses Q3 EPS by 1c

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Go back to Pioneer Energy Services (PES) Misses Q3 EPS by 1c

Pioneer Energy Services Reports Third Quarter 2015 Results

October 29, 2015 6:00 AM EDT

SAN ANTONIO, Oct. 29, 2015 /PRNewswire/ -- Pioneer Energy Services (NYSE: PES) today reported financial and operating results for the quarter ended September 30, 2015. Notable items for the third quarter and recent developments include: 

Deployed four 1,500-horsepower AC new-build drilling rigs year-to-date with the final rig to be completed by year end. Well servicing rig utilization was 62% in the third quarter, with average pricing of $577 per hour. Drilling utilization in the third quarter was 49% based on an average fleet of 36 rigs. Amended revolving credit facility, which reduced overall facility capacity... More