1 May 2020director interest notice● Neutral
PIONEER ENERGY SERVICES LLC President & CEO Stacy Locke acquired 159,040 shares and disposed of 38,726 in a set of related equity transactions.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 May 2020director interest notice● Neutral
PIONEER ENERGY SERVICES LLC EVP, CSO Carlos R Pena acquired 41,852 shares and disposed of 16,468 in a set of related equity transactions.
1 May 2020director interest notice● Neutral
PIONEER ENERGY SERVICES LLC EVP & CFO Lorne Phillips acquired 43,806 shares and disposed of 17,236 in a set of related equity transactions.
2 Mar 2020bankruptcy or receivership▼ BadMajor
Pioneer signed a restructuring agreement on Feb 28, 2020 with holders of about 99% of its term loan and about 75% of its unsecured notes, and filed a prepackaged Chapter 11 case on March 1, 2020 in the Southern District of Texas. The plan cuts funded debt by about $260 million. Noteholders get 94.25% of the new equity plus rights to buy new convertible bonds, and existing shareholders would get 5.75% of the new equity plus a pro rata share of the rights offering, subject to their class voting to accept. Trade creditors are to be paid in full. The $175M term loan and the 2022 notes flagged as open issues in the context are dealt with here. The existing ABL is to be refinanced with a $75M debtor-in-possession facility. Shareholders are expected to be heavily diluted, but the filing says the plan may not be completed. Existing equity is to be cancelled and exchanged for a small stake. Supported by the equity exchange terms in the text, though the outcome is conditional on the vote and court approval.
13 Feb 2020substantial holder notice● Neutral
Macquarie Group Limited, Macquarie Bank Limited, Macquarie Investment Management Holdings Inc, Macquarie Investment Management Business Trust, Delaware Small Cap Core Fund, a series of Delaware Group Equity Funds IV reported no remaining PIONEER ENERGY SERVICES LLC shareholding in its periodic institutional filing.
10 Jan 2020substantial holder notice● Neutral
Van Den Berg Management I, Inc reported a PIONEER ENERGY SERVICES LLC shareholding of 3,309,367 shares (4.18% of votes) in a periodic institutional filing.
31 Oct 2019quarterly activities report▼ Bad
PIONEER ENERGY SERVICES LLC reported quarterly revenue of $146.4 million and a net loss of $26.0 million for the period ended 2019-09-30.
31 Oct 2019quarterly activities report▼ Bad
PIONEER ENERGY SERVICES LLC reported quarterly revenue of $146.4 million and a net loss of $26.0 million for the period ended 2019-09-30.
29 Aug 2019listing compliance notice● NeutralMajor
PIONEER ENERGY SERVICES LLC's exchange filed to remove a class of its securities from listing.
14 Aug 2019listing compliance notice▼ BadMajor
On Aug 14, 2019 the NYSE suspended trading in Pioneer's shares because of an "abnormally low" price and began delisting proceedings. This follows the June 2019 below-$1.00 notice, and the cure period never ran its course. The company does not plan to appeal; it expects trading on the OTCQX as "PESX" from Aug 15, 2019, a more limited market that may be less liquid. Business operations are said to be unaffected and SEC reporting continues.
31 July 2019quarterly activities report▼ Bad
PIONEER ENERGY SERVICES LLC reported quarterly revenue of $152.8 million and a net loss of $12.9 million for the period ended 2019-06-30.
31 July 2019quarterly activities report▼ Bad
PIONEER ENERGY SERVICES LLC reported quarterly revenue of $152.8 million and a net loss of $12.9 million for the period ended 2019-06-30.
10 July 2019substantial holder notice● Neutral
BlackRock, Inc reported a PIONEER ENERGY SERVICES LLC shareholding of 1,744,801 shares (2.20% of votes) in a periodic institutional filing.
12 June 2019listing compliance notice▼ BadMajor
On June 11, 2019 the NYSE notified Pioneer that its 30-day average closing share price had fallen below $1.00 (it was $0.89). Pioneer has six months to regain compliance and intends to tell the NYSE by June 25, 2019 that it will cure the deficiency. The stock continues to trade on the NYSE as PES with a ".BC" (below compliance) tag; the filing says delisting could reduce liquidity and market access.
2 May 2019quarterly activities report▼ Bad
PIONEER ENERGY SERVICES LLC reported quarterly revenue of $146.6 million and a net loss of $15.1 million for the period ended 2019-03-31.
2 May 2019quarterly activities report▼ Bad
PIONEER ENERGY SERVICES LLC reported quarterly revenue of $146.6 million and a net loss of $15.1 million for the period ended 2019-03-31.
29 Apr 2019agm notice● Neutral
PIONEER ENERGY SERVICES LLC announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
16 Apr 2019agm notice● Neutral
PIONEER ENERGY SERVICES LLC shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
27 Feb 2019quarterly activities report▼ Bad
PIONEER ENERGY SERVICES LLC reported quarterly revenue of $141.5 million and a net loss of $14.5 million for the period ended 2018-12-31.
19 Feb 2019quarterly activities report▼ Bad
PIONEER ENERGY SERVICES LLC reported quarterly revenue of $141.5 million and a net loss of $14.5 million for the period ended 2018-12-31.
15 Feb 2019substantial holder notice● Neutral
The Vanguard Group reported a PIONEER ENERGY SERVICES LLC shareholding of 2,902,818 shares (3.71% of votes) in a periodic institutional filing.
14 Feb 2019substantial holder notice● Neutral
Van Den Berg Management I, Inc reported a PIONEER ENERGY SERVICES LLC shareholding of 7,338,972 shares (9.38% of votes) in a periodic institutional filing.
14 Feb 2019substantial holder notice● Neutral
Macquarie Group Limited, Macquarie Bank Limited, Macquarie Investment Management Holdings Inc, Macquarie Investment Management Business Trust, Delaware Small Cap Core Fund, a series of Delaware Group Equity Funds IV disclosed a new substantial PIONEER ENERGY SERVICES LLC shareholding (8.67% of votes).
31 Jan 2019substantial holder notice● Neutral
BlackRock, Inc reported a PIONEER ENERGY SERVICES LLC shareholding of 11,327,120 shares (14.50% of votes) in a periodic institutional filing.
30 Oct 2018quarterly activities report▼ Bad
PIONEER ENERGY SERVICES LLC reported quarterly revenue of $149.3 million and a net loss of $5.2 million for the period ended 2018-09-30.
30 Oct 2018quarterly activities report▼ Bad
PIONEER ENERGY SERVICES LLC reported quarterly revenue of $149.3 million and a net loss of $5.2 million for the period ended 2018-09-30.
31 July 2018quarterly activities report▼ Bad
PIONEER ENERGY SERVICES LLC reported quarterly revenue of $154.8 million and a net loss of $18.2 million for the period ended 2018-06-30.
31 July 2018quarterly activities report▼ Bad
PIONEER ENERGY SERVICES LLC reported quarterly revenue of $154.8 million and a net loss of $18.2 million for the period ended 2018-06-30.
22 May 2018securities registration● Neutral
PIONEER ENERGY SERVICES LLC registered a securities offering with the SEC using its shelf eligibility.
22 May 2018agm notice● Neutral
PIONEER ENERGY SERVICES LLC shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).