Pioneer Energy Services (PES) Misses Q4 EPS by 3c

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Go back to Pioneer Energy Services (PES) Misses Q4 EPS by 3c

Pioneer Energy Services Reports Fourth Quarter 2016 Results

February 17, 2017 6:00 AM EST

SAN ANTONIO, Feb. 17, 2017 /PRNewswire/ -- Pioneer Energy Services (NYSE: PES) today reported financial and operating results for the quarter ended December 31, 2016. Notable items include:

Completed equity offering in December resulting in net proceeds of $65.4 million used to reduce borrowings under the Revolving Credit Facility. Re-activated three additional drilling rigs in Colombia late in the fourth quarter. Sold three SCR walking drilling rigs for gross proceeds of $11 million and removed four SCR rigs from the marketed fleet resulting in a domestic fleet of 16 pad-capable AC... More