2 May 2017director interest notice● Neutral
PIONEER ENERGY SERVICES LLC EVP & Pres Drilling Svs. Div. Brian L Tucker acquired 13,223 shares and disposed of 5,004 in a set of related equity transactions.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
2 May 2017director interest notice● Neutral
PIONEER ENERGY SERVICES LLC President & CEO Stacy Locke received 112,545 shares as part of the equity award.
2 May 2017director interest notice● Neutral
PIONEER ENERGY SERVICES LLC Sr VP Wireline & Coil Tubing Bill W. Bouziden acquired 13,678 shares and disposed of 3,740 in a set of related equity transactions.
17 Apr 2017agm 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).
17 Feb 2017quarterly activities report▼ Bad
PIONEER ENERGY SERVICES LLC reported quarterly revenue of $71.5 million and a net loss of $36.1 million for the period ended 2016-12-31.
13 Feb 2017substantial holder notice● Neutral
The Vanguard Group reported a PIONEER ENERGY SERVICES LLC shareholding of 3,798,203 shares (5.02% of votes) in a periodic institutional filing.
10 Feb 2017substantial holder notice● Neutral
The Bank of New York Mellon Corporation reported a PIONEER ENERGY SERVICES LLC shareholding of 1,004,148 shares (1.33% of votes) in a periodic institutional filing.
3 Feb 2017substantial holder notice● Neutral
The Bank of New York Mellon Corporation disclosed a new substantial PIONEER ENERGY SERVICES LLC shareholding (5.47% of votes).
1 Feb 2017director interest notice● Neutral
PIONEER ENERGY SERVICES LLC Sr VP Wireline & Coil Tubing Bill W. Bouziden exercised stock options for 3,778 shares and disposed of 5,011 shares.
1 Feb 2017director interest notice● Neutral
PIONEER ENERGY SERVICES LLC President & CEO Stacy Locke exercised stock options for 31,085 shares and disposed of 40,107 shares.
1 Feb 2017director interest notice● Neutral
PIONEER ENERGY SERVICES LLC EVP & CFO Lorne Phillips exercised stock options for 10,446 shares and disposed of 13,856 shares.
1 Feb 2017director interest notice● Neutral
PIONEER ENERGY SERVICES LLC EVP & Pres Drilling Svs. Div. Brian L Tucker exercised stock options for 3,653 shares and disposed of 5,247 shares.
1 Feb 2017director interest notice● Neutral
PIONEER ENERGY SERVICES LLC EVP, & General Counsel Carlos R Pena exercised stock options for 8,964 shares and disposed of 11,890 shares.
30 Jan 2017director interest notice● Neutral
PIONEER ENERGY SERVICES LLC Sr VP Wireline & Coil Tubing Bill W. Bouziden received a stock option grant for 7,521 shares.
30 Jan 2017director interest notice● Neutral
PIONEER ENERGY SERVICES LLC EVP & CFO Lorne Phillips received a stock option grant for 36,898 shares.
30 Jan 2017director interest notice● Neutral
PIONEER ENERGY SERVICES LLC SVP & General Counsel Carlos R Pena received a stock option grant for 35,253 shares.
30 Jan 2017director interest notice● Neutral
PIONEER ENERGY SERVICES LLC EVP & Pres Drilling Svs. Div. Brian L Tucker received a stock option grant for 35,253 shares.
30 Jan 2017director interest notice● Neutral
PIONEER ENERGY SERVICES LLC President & CEO Stacy Locke received a stock option grant for 133,960 shares.
17 Jan 2017substantial holder notice● Neutral
BlackRock, Inc reported a PIONEER ENERGY SERVICES LLC shareholding of 9,066,556 shares (11.80% of votes) in a periodic institutional filing.
5 Jan 2017capital raising announcement● NeutralMajor
In an investor presentation on January 5, 2017, Pioneer said it finalized the sale of three SCR walking rigs for $11.0 million. With the $65.4 million equity proceeds, this cut the revolver balance to $39.7 million (from about $95 million drawn in June 2016, per earlier filing). Two other SCR rigs were retired for spare parts and two were designated held-for-sale; current drilling utilization is 71% on 24 rigs. Pioneer lowered Q4 production services margin guidance to 13-16% (from 20-22%) citing start-up costs and lost well servicing drill pipe, but said it expects to stay in compliance with credit covenants.
12 Dec 2016capital raising announcement● NeutralMajor
The offering closed on December 12, 2016: 12,075,000 shares sold at $5.75, including the full 1,575,000-share underwriter option. Net proceeds were about $65.4 million, which Pioneer intends to use to repay its revolver. This completes the raise and increases the share count by 12,075,000, diluting existing holders.
What it means for a shareholder
12.1m new shares at $5.75 to raise about $65.4m. That's 16% dilution: every existing holder's slice gets 16% smaller. If you held $1,000 of shares (174 at the issue price), your slice goes from 0.000267% to 0.000225% of the company. To keep it you'd need 32 more shares - about $184 at the issue price.
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8 Dec 2016material agreement● Neutral
Pioneer signed the underwriting agreement with Goldman, Sachs & Co. to sell 10,500,000 shares at $5.4481 to the underwriters (public price $5.75), plus a 30-day option for 1,575,000 more. Expected proceeds before expenses on the initial shares are about $57.2 million, with closing expected December 12, 2016. This is the contract behind the equity offering already announced.
8 Dec 2016substantial holder notice● Neutral
Indian Creek Investors LP, Indian Creek Asset Management LLC, Indian Creek Capital Management LLC, Gary Siegler reported a PIONEER ENERGY SERVICES LLC shareholding of 2,060,400 shares (2.70% of votes) in a periodic institutional filing.
8 Dec 2016securities registration● Neutral
PIONEER ENERGY SERVICES LLC filed a prospectus supplement for an offering off its existing shelf.
7 Dec 2016capital raising announcement● NeutralMajor
Pioneer priced the offering on December 6, 2016, upsized from 9,000,000 to 10,500,000 shares at $5.75 per share, with a 30-day option for up to 1,575,000 more. Closing was expected December 12, and proceeds are to repay the revolver. The larger share count means more dilution for existing holders, but also more debt repayment.
6 Dec 2016capital raising announcement● NeutralMajor
On December 6, 2016 Pioneer announced an underwritten public offering of 9,000,000 new shares, with a 30-day option for the underwriter to buy up to 1,350,000 more. The stated use of the proceeds is to repay debt under its senior secured revolving credit facility. This starts the equity raise anticipated by the June 2016 credit amendment, which required net equity proceeds to go to the revolver; new shares mean existing holders' ownership will be diluted.
6 Dec 2016securities registration● Neutral
PIONEER ENERGY SERVICES LLC filed a prospectus supplement for an offering off its existing shelf.
1 Nov 2016quarterly activities report▼ Bad
PIONEER ENERGY SERVICES LLC reported quarterly revenue of $68.4 million and a net loss of $34.6 million for the period ended 2016-09-30.
1 Nov 2016quarterly activities report▼ Bad
PIONEER ENERGY SERVICES LLC reported quarterly revenue of $68.4 million and a net loss of $34.6 million for the period ended 2016-09-30.
9 Aug 2016director interest notice● Neutral
PIONEER ENERGY SERVICES LLC director C John Thompson sold 3,000 shares at $3.45.