Pioneer Energy Services (PES) Tops Q4 EPS by 1c

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Pioneer Energy Services Reports Fourth Quarter 2015 Results

February 17, 2016 6:00 AM EST

SAN ANTONIO, Texas, Feb. 17, 2016 /PRNewswire/ -- Pioneer Energy Services (NYSE: PES) today reported financial and operating results for the year and quarter ended December 31, 2015. Notable items for the fourth quarter include: 

Sold four SCR drilling rigs for aggregate gross proceeds of $17.3 million and classified four additional rigs as held-for-sale at year-end. Amended revolving credit facility, which reduced borrowing capacity while providing more flexible covenants through maturity in 2019. Completed construction of the final 1,500-horsepower AC new-build drilling rig. Well servicing rig utilization was 55% with average... More