Pioneer Energy Services (PES) Tops Q3 EPS by 5c

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Go back to Pioneer Energy Services (PES) Tops Q3 EPS by 5c

Pioneer Energy Services Reports Third Quarter 2016 Results

November 1, 2016 6:00 AM EDT

SAN ANTONIO, Nov. 1, 2016 /PRNewswire/ -- Pioneer Energy Services (NYSE: PES) today reported financial and operating results for the quarter ended September 30, 2016. Notable items include:

Production Services Segment revenue up 19% sequentially, with improvements in all business lines, particularly wireline services. Successfully mobilized three domestic drilling rigs from the Bakken to begin work in West Texas and Appalachia. Re-activated one drilling rig in Colombia late in the third quarter and anticipate another rig beginning operations late in the fourth quarter of 2016. Anticipate the sale of three... More