Pioneer Energy Services (PES) Misses Q2 EPS by 3c

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Go back to Pioneer Energy Services (PES) Misses Q2 EPS by 3c

Pioneer Energy Services Reports Second Quarter 2017 Results

August 1, 2017 6:00 AM EDT

SAN ANTONIO, Aug. 1, 2017 /PRNewswire/ -- Pioneer Energy Services (NYSE: PES) today reported financial and operating results for the quarter ended June 30, 2017. Notable items include:

Production Services Segment revenue increased 20% from the prior quarter with improved gross margins in all businesses. Drilling Services Segment average margin per day was $7,735, up for the third consecutive quarter. U.S. drilling fleet is 100% pad-optimal AC rigs and is 100% utilized with dayrates that have continued to roll higher through 2017.

Consolidated Financial Results

Revenues for the second... More