8 Dec 2004director interest notice● Neutral
PIONEER ENERGY SERVICES LLC CFO William D Hibbetts disposed of 10,000 shares via option/appreciation-right settlement.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
7 Dec 2004director interest notice● Neutral
PIONEER ENERGY SERVICES LLC CFO William D Hibbetts bought 11,666 shares on the open market at $3.70.
7 Dec 2004director interest notice● Neutral
PIONEER ENERGY SERVICES LLC Pres/CEO Stacy Locke disposed of 405,387 shares via option/appreciation-right settlement.
6 Dec 2004director interest notice● Neutral
PIONEER ENERGY SERVICES LLC Pres/CEO Stacy Locke disposed of 30,000 shares via option/appreciation-right settlement.
6 Dec 2004director interest notice● Neutral
PIONEER ENERGY SERVICES LLC director C John Thompson bought 50,000 shares on the open market.
6 Dec 2004director interest notice● Neutral
PIONEER ENERGY SERVICES LLC director Dean A Burkhardt bought 40,000 shares on the open market.
2 Dec 2004material agreement▲ GoodMajor
On November 30, 2004 Pioneer's subsidiary agreed to buy five mechanical land drilling rigs and related assets from Allen Drilling Company (Woodward, Oklahoma) for $7,400,000 in cash, plus a roughly 17-acre property for $300,000 for an Oklahoma yard. Closing was expected by December 17, 2004. This is a second rig purchase following Wolverine.
23 Nov 2004director interest notice● Neutral
PIONEER ENERGY SERVICES LLC Pres/CEO Stacy Locke bought 10,000 shares on the open market at $4.55.
12 Nov 2004material agreement▲ GoodMajor
On November 11, 2004 Pioneer's subsidiary agreed to buy seven mechanical land drilling rigs and related assets from Wolverine Drilling (Kenmare, North Dakota) for $27,950,000 in cash, plus a $50,000 land purchase for a North Dakota yard. Closing was expected by December 2, 2004. This is a new rig acquisition, likely to be funded by the new credit facility (inference).
2 Nov 2004debt financing● NeutralMajor
On October 29, 2004 Pioneer entered a new $47 million secured credit facility: a $7 million revolving/letter-of-credit line and a $40 million acquisition facility for rigs and equipment. Frost National Bank is agent, with the Bank of Scotland and Zions First National Bank as lenders; it is secured by its rigs, equipment and receivables, bars cash dividends, and carries financial covenants. It replaces the Frost and Merrill Lynch debt paid off in August (inference from timing; the filing does not say so).
10 Sept 2004director interest notice● Neutral
PIONEER ENERGY SERVICES LLC 10%+ owner Issam M Fares sold 837,302 shares at $6.90.
10 Sept 2004director interest notice● Neutral
PIONEER ENERGY SERVICES LLC 10%+ owner Wedge Energy Services LLC sold 837,302 shares at $6.90.
2 Sept 2004director interest notice● Neutral
PIONEER ENERGY SERVICES LLC 10%+ owner Chesapeake Energy Corp bought 94,670 shares on the open market at $6.90.
24 Aug 2004capital raising announcement▲ GoodMajor
The $28 million of 6.75% convertible debentures held by WEDGE and William White were converted on August 11, 2004 into 6,496,519 common shares, removing that debt. Pioneer also paid $2 million on its Merrill Lynch Capital note (about $12.6 million at June 30, 2004, due December 2007) and gave notice of intent to pay off the balance, and retired two Frost National Bank notes ($2.9 million and $4.1 million as of June 30, 2004). This completes the debenture conversion set up in the August offering.
17 Aug 2004director interest notice● Neutral
PIONEER ENERGY SERVICES LLC 10%+ owner Chesapeake Energy Corp bought 1,108,133 shares on the open market.
11 Aug 2004director interest notice● Neutral
PIONEER ENERGY SERVICES LLC director Michael E Little sold 350,000 shares at $6.90.
6 Aug 2004securities registration● Neutral
PIONEER ENERGY SERVICES LLC registered additional securities for an offering already underway.
6 Aug 2004capital raising announcement● NeutralMajor
On August 5, 2004 Pioneer signed an underwriting agreement for a public offering of up to 4,600,000 new company shares plus up to 6,419,320 shares sold by WEDGE Energy Services, Michael Little and William White. WEDGE and Mr. White agreed to convert all $28 million of the 6.75% convertible subordinated debentures into 6,496,519 shares just before closing, and Chesapeake Energy said it will use preemptive rights to buy 631,133 shares (725,803 with full over-allotment).
6 Aug 2004securities registration● Neutral
PIONEER ENERGY SERVICES LLC filed the final prospectus for a registered offering.
4 Aug 2004securities registration● Neutral
PIONEER ENERGY SERVICES LLC amended a filing by which it registered a securities offering with the SEC.
28 July 2004securities registration● Neutral
PIONEER ENERGY SERVICES LLC amended a filing by which it registered a securities offering with the SEC.
9 July 2004securities registration● Neutral
PIONEER ENERGY SERVICES LLC registered a securities offering with the SEC.
23 June 2004securities registration● Neutral
PIONEER ENERGY SERVICES LLC filed the final prospectus for a registered offering.
16 June 2004securities registration● Neutral
PIONEER ENERGY SERVICES LLC amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
4 June 2004securities registration● Neutral
PIONEER ENERGY SERVICES LLC amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
18 May 2004director interest notice● Neutral
Mike F Harness became a PIONEER ENERGY SERVICES LLC director and company insider (initial ownership filing).
18 May 2004director interest notice● Neutral
C Robert Bunch became a PIONEER ENERGY SERVICES LLC director and company insider (initial ownership filing).
14 May 2004securities registration● Neutral
PIONEER ENERGY SERVICES LLC amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
19 Apr 2004securities registration● Neutral
PIONEER ENERGY SERVICES LLC amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
24 Feb 2004securities registration● Neutral
PIONEER ENERGY SERVICES LLC registered a securities offering with the SEC using its shelf eligibility.