PIONEER ENERGY SERVICES CORP. (NYSE:PES) Files An 8-K Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure.
(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 UBS Global Oil and Gas Conference. The slides provide an
update on the Company’s operations and certain recent
developments, which among others, include the following:
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April utilization was 67%. Current utilization is 75%.
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In the U.S., rigs remain 50% contracted with dayrates
continuing to increase. Current AC rig upgrade to be completed in early June. |
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In Colombia, three rigs currently working. Expect two
additional rigs to begin working by the end of the second quarter. |
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Well Servicing April utilization was 43% as compared to 43%
in the prior quarter. May month-to-date utilization is 47%. |
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Coiled Tubing activity and pricing improving from first
quarter 2017 levels. |
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Wireline activity and pricing remains strong. Expect to
receive two additional wireline units in June and two in July. |
incorporated herein by reference. The slides are available on the
Company’s website at www.pioneeres.com.
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, 2016 which has been filed with
the Securities and Exchange Commission.
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. PIONEER ENERGY SERVICES CORP. (NYSE:PES) Recent Trading Information
PIONEER ENERGY SERVICES CORP. (NYSE:PES) closed its last trading session down -0.10 at 2.80 with 785,938 shares trading hands.