14 Feb 2007substantial holder notice● Neutral
THE VANGUARD GROUP, INC disclosed a new substantial PIONEER ENERGY SERVICES LLC shareholding (5.25% of votes).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
6 Feb 2007director interest notice● Neutral
PIONEER ENERGY SERVICES LLC Pres/CEO Stacy Locke exercised stock options for 2,000 shares and disposed of 2,000 shares.
31 Oct 2006debt financing● Neutral
On October 30, 2006 Pioneer amended its now $57 million credit facility ($7 million revolver plus $50 million acquisition facility), extending the revolver to October 25, 2008 and offering LIBOR plus 1.5% to 2.25% or Frost's prime rate (8.25%). Covenants were tightened: debt to total capitalization at most 0.2 to 1 (previously 0.3) and operating leverage at most 2.5 to 1 (previously 3). Frost National Bank is now named as the lender, where earlier filings listed Bank of Scotland and Zions as well.
7 June 2006director interest notice● Neutral
PIONEER ENERGY SERVICES LLC Pres/CEO Stacy Locke exercised stock options for 120,000 shares.
7 June 2006director interest notice● Neutral
PIONEER ENERGY SERVICES LLC Sr. VP Donald G Lacombe exercised stock options for 40,000 shares.
7 June 2006director interest notice● Neutral
PIONEER ENERGY SERVICES LLC CFO William D Hibbetts exercised stock options for 45,000 shares.
13 Mar 2006director interest notice● Neutral
PIONEER ENERGY SERVICES LLC Pres/CEO Stacy Locke exercised stock options for 4,000 shares and disposed of 4,000 shares.
27 Feb 2006director interest notice● Neutral
PIONEER ENERGY SERVICES LLC Sr. VP Donald G Lacombe disposed of 10,000 shares via option/appreciation-right settlement.
10 Feb 2006substantial holder notice● Neutral
Chesapeake Energy Corporation disclosed a new substantial PIONEER ENERGY SERVICES LLC shareholding (0.00% of votes).
9 Feb 2006director interest notice● Neutral
PIONEER ENERGY SERVICES LLC 10%+ owner Chesapeake Energy Corp sold 7,701,905 shares at $20.63.
8 Feb 2006substantial holder notice● Neutral
Chesapeake Energy Corporation disclosed a new substantial PIONEER ENERGY SERVICES LLC shareholding (16.54% of votes).
7 Feb 2006securities registration● Neutral
PIONEER ENERGY SERVICES LLC filed a prospectus supplement for an offering off its existing shelf.
7 Feb 2006material agreement● NeutralMajor
On February 7, 2006 Pioneer and Chesapeake agreed to sell 10,701,905 shares through Lehman Brothers: 3,000,000 new Pioneer shares and 7,701,905 from Chesapeake. Pioneer expects about $62 million net, for general purposes that may include building or buying rigs, and gets nothing from Chesapeake's shares. It issues new shares, but Chesapeake, holder of preemptive rights, is a seller here. The press release says the fleet is 55 rigs, up from the 35 expected after the earlier acquisitions.
7 Feb 2006securities registration● Neutral
PIONEER ENERGY SERVICES LLC filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
7 Feb 2006listing compliance notice▼ Bad
PIONEER ENERGY SERVICES LLC withdrew a registration statement, abandoning the offering it covered.
6 Feb 2006securities registration● Neutral
PIONEER ENERGY SERVICES LLC registered a securities offering with the SEC using its shelf eligibility.
9 Jan 2006director interest notice● Neutral
PIONEER ENERGY SERVICES LLC CFO William D Hibbetts had 10,000 shares withheld for taxes on vesting stock.
16 Dec 2005debt financing● Neutral
On December 15, 2005 Pioneer amended its credit facility again, reinstating the acquisition facility and raising it from $40 million to $50 million, with the same lenders and covenants. This adds borrowing capacity for rigs, but the filing does not say how much has been drawn or what it will fund.
12 Dec 2005director interest notice● Neutral
PIONEER ENERGY SERVICES LLC Pres/CEO Stacy Locke disposed of 35,500 shares via option/appreciation-right settlement.
7 Dec 2005director interest notice● Neutral
PIONEER ENERGY SERVICES LLC Pres/CEO Stacy Locke disposed of 309,593 shares via option/appreciation-right settlement.
7 Dec 2005director interest notice● Neutral
PIONEER ENERGY SERVICES LLC CFO William D Hibbetts disposed of 10,000 shares via option/appreciation-right settlement.
7 Nov 2005material agreement● Neutral
On November 1, 2005 the board adopted a new director fee schedule effective October 1, 2005, with member retainers of $7,500 a quarter ($11,250 for the chairman) plus meeting fees. The annual stock option grant to directors rises to 10,000 shares, subject to shareholder approval. This is a small governance change.
28 Oct 2005debt financing● Neutral
On October 26, 2005 Pioneer amended its $47 million credit facility again, extending the $7 million revolver to October 27, 2006 and adding a LIBOR-based rate option (LIBOR plus 1.75% to 2.5%) alongside Frost's prime rate (6.75%). Covenants, the dividend ban and the lender group are unchanged. This is a routine renewal of the existing facility.
21 Oct 2005director interest notice● Neutral
PIONEER ENERGY SERVICES LLC CFO William D Hibbetts had 10,000 shares withheld for taxes on vesting stock.
1 Sept 2005director interest notice● Neutral
PIONEER ENERGY SERVICES LLC director Michael E Little exercised stock options for 166,666 shares and disposed of 333,332 shares.
26 Aug 2005director interest notice● Neutral
PIONEER ENERGY SERVICES LLC Exec. VP/COO Franklin C West exercised stock options for 56,800 shares and disposed of 113,600 shares.
24 Aug 2005director interest notice● Neutral
PIONEER ENERGY SERVICES LLC Exec. VP/COO Franklin C West exercised stock options for 13,200 shares and disposed of 26,400 shares.
22 Aug 2005director interest notice● Neutral
PIONEER ENERGY SERVICES LLC CFO William D Hibbetts exercised stock options for 30,000 shares.
22 Aug 2005director interest notice● Neutral
PIONEER ENERGY SERVICES LLC Sr. VP Donald G Lacombe exercised stock options for 27,000 shares.
22 Aug 2005director interest notice● Neutral
PIONEER ENERGY SERVICES LLC Pres/CEO Stacy Locke exercised stock options for 98,000 shares.