PIONEER ENERGY SERVICES CORP. (NYSE:PES) Files An 8-K Regulation FD DisclosureItem 7.01 Regulation FD Disclosure.
From time to time, senior management of Pioneer Energy Services (the “Company”) meets with groups of investors and business analysts. The slides attached to this report have been prepared in connection with management's participation in such meetings and participation in the Jefferies 2018 Energy Conference. The slides provide an update on the Company's operations and certain recent developments, which among others, include the following:
Third Quarter Updates
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Executed contracts for two rigs in Colombia, both of which are currently mobilizing and are expected to begin operations in December. With these executed contracts, we expect to have seven rigs working by mid-December. |
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As expected, two rigs in Colombia received rate increases of approximately $1,500 to $3,000 per day in November with a third rig expected to receive a $3,000 per day rate increase in early first quarter. |
The slides are included in Exhibit 99.1 to this report and are incorporated herein by reference. The slides are available on the Company's website at www.pioneeres.com.
Safe Harbor Statement
Statements contained in this report and Exhibit 99.1 to this report that state the Company's or its management's expectations and assumptions about future events are forward-looking statements intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. It is important to note that the Company's actual results could differ materially from those projected or assumed in such forward-looking statements. Factors that could affect those results include, among others, those mentioned in the Company's annual report on Form 10-K for the fiscal year ended December 31, 2017 which has been filed with the Securities and Exchange Commission.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
99.1Slides for Company presentations to be used from time to time.
PIONEER ENERGY SERVICES CORP ExhibitEX-99.1 2 slides27november2018.htm EXHIBIT 99.1 slides27november2018 ibdroot\Projects\IBD-NY\thaw2016\595552_1\06. Road Show\PES Company Presentation GS EQUITY v02.pptx Jefferies Energy Conference November 27th,…To view the full exhibit click here
About PIONEER ENERGY SERVICES CORP. (NYSE:PES)
Pioneer Energy Services Corp. provides land-based drilling services and production services to oil and gas exploration, and production companies in the United States and internationally in Colombia. The Company operates through two segments: Drilling Services and Production Services. The Drilling Services Segment provides contract land drilling services to a group of exploration and production companies through its four drilling divisions in the United States, and internationally in Colombia. The Production Services Segment provides a range of services, including well servicing, wireline services and coiled tubing services, to a group of exploration and production companies, with its operations concentrated in the United States onshore oil and gas producing regions in the Mid-Continent and Rocky Mountain states and in the Gulf Coast, both onshore and offshore. The Company also provides coiled tubing and wireline services offshore in the Gulf of Mexico.
