Pioneer Energy Services (PES) Tops Q1 EPS by 4c

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Go back to Pioneer Energy Services (PES) Tops Q1 EPS by 4c

Pioneer Energy Services Reports First Quarter 2019 Results

May 2, 2019 6:01 AM EDT

SAN ANTONIO, May 2, 2019 /PRNewswire/ -- Pioneer Energy Services (NYSE: PES) today reported financial and operating results for the quarter ended March 31, 2019. First quarter highlights include:

Domestic drilling fleet was fully contracted and generated an average margin per day of $10,944. Production services revenues increased 6% sequentially, primarily driven by the coiled tubing revenue increase of 16%. Deployed our newest 1,500 horsepower, super-spec, new-build drilling rig, which began operations in West Texas on a three-year term contract.

Consolidated Financial Results

Revenues for the first... More