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 2017 Wells Fargo West Coast Energy 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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May utilization was 74%. Current utilization is 83%.
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In the U.S., rigs remain 50% contracted with dayrates
continuing to increase. 16th>AC rig upgrade completed and now working in West Texas. |
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In Colombia, four rigs currently working. Anticipate two
additional rigs to be contracted and begin earning by mid-August. |
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Well Servicing May utilization was 48% as compared to 43% in
the prior quarter. June month-to-date utilization is 50%. |
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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.
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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.
PIONEER ENERGY SERVICES CORP Exhibit…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.