28 July 2016quarterly activities report▼ Bad
PIONEER ENERGY SERVICES LLC reported quarterly revenue of $62.3 million and a net loss of $30.0 million for the period ended 2016-06-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
28 July 2016quarterly activities report▼ Bad
PIONEER ENERGY SERVICES LLC reported quarterly revenue of $62.3 million and a net loss of $30.0 million for the period ended 2016-06-30.
8 July 2016substantial holder notice● Neutral
BlackRock, Inc reported a PIONEER ENERGY SERVICES LLC shareholding of 6,503,346 shares (10.10% of votes) in a periodic institutional filing.
1 July 2016material agreement▼ BadMajor
On June 30, 2016 Pioneer signed a Fifth Amendment to its credit agreement, cutting commitments from $200 million to $175 million (falling to $150 million by December 31, 2017) and raising the Eurodollar margin from 4.75% to 5.50%. The leverage and interest coverage tests for the quarters ending December 2016 through June 2017 are replaced by minimum EBITDA targets ($4 million, $7 million, $12 million), capital spending is limited to $35 million for 2016, and cash above $20 million must repay loans weekly. Pioneer said $95 million was drawn, plus $17.3 million in letters of credit. This continues the series of amendments that have shrunk and tightened the facility since 2015.
7 June 2016director interest notice● Neutral
PIONEER ENERGY SERVICES LLC director C John Thompson sold 8,995 shares.
1 June 2016director interest notice● Neutral
PIONEER ENERGY SERVICES LLC director C John Thompson sold 4,000 shares.
23 May 2016director interest notice● Neutral
PIONEER ENERGY SERVICES LLC director C John Thompson sold 4,000 shares.
20 May 2016director interest notice● Neutral
PIONEER ENERGY SERVICES LLC director Dean A Burkhardt received 41,666 shares as part of the equity award.
20 May 2016director interest notice● Neutral
PIONEER ENERGY SERVICES LLC director John M Rauh received 41,666 shares as part of the equity award.
20 May 2016director interest notice● Neutral
PIONEER ENERGY SERVICES LLC director C John Thompson received 41,666 shares as part of the equity award.
20 May 2016director interest notice● Neutral
PIONEER ENERGY SERVICES LLC director Scott D Urban received 41,666 shares as part of the equity award.
9 May 2016agm notice● Neutral
PIONEER ENERGY SERVICES LLC announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
3 May 2016director interest notice● Neutral
PIONEER ENERGY SERVICES LLC EVP & Pres Drilling Svs. Div. Brian L Tucker acquired 9,143 shares and disposed of 2,500 in a set of related equity transactions.
3 May 2016director interest notice● Neutral
PIONEER ENERGY SERVICES LLC Sr VP Well Servicing Joe Freeman acquired 9,306 shares and disposed of 2,544 in a set of related equity transactions.
3 May 2016director interest notice● Neutral
PIONEER ENERGY SERVICES LLC EVP & CFO Lorne Phillips acquired 21,130 shares and disposed of 5,778 in a set of related equity transactions.
3 May 2016director interest notice● Neutral
PIONEER ENERGY SERVICES LLC President & CEO Stacy Locke received 72,996 shares as part of the equity award.
3 May 2016director interest notice● Neutral
PIONEER ENERGY SERVICES LLC SVP & General Counsel Carlos R Pena acquired 19,209 shares and disposed of 5,253 in a set of related equity transactions.
29 Apr 2016quarterly activities report▼ Bad
PIONEER ENERGY SERVICES LLC reported quarterly revenue of $75.0 million and a net loss of $27.7 million for the period ended 2016-03-31.
29 Apr 2016quarterly activities report▼ Bad
PIONEER ENERGY SERVICES LLC reported quarterly revenue of $75.0 million and a net loss of $27.7 million for the period ended 2016-03-31.
17 Feb 2016quarterly activities report▼ Bad
PIONEER ENERGY SERVICES LLC reported quarterly revenue of $104.5 million and a net loss of $48.3 million for the period ended 2015-12-31.
10 Feb 2016substantial holder notice● Neutral
The Vanguard Group reported a PIONEER ENERGY SERVICES LLC shareholding of 2,486,595 shares (3.85% of votes) in a periodic institutional filing.
27 Jan 2016substantial holder notice● Neutral
BlackRock, Inc reported a PIONEER ENERGY SERVICES LLC shareholding of 6,265,850 shares (9.70% of votes) in a periodic institutional filing.
5 Jan 2016capital raising announcement▼ Bad
Pioneer furnished investor slides for the Goldman Sachs energy conference on January 5, 2016. It repeated the December sale of four SCR rigs for $17.3 million and said four more rigs (three mechanical, one non-walking SCR) were classified as held for sale at December 31, 2015. Fourth-quarter utilization was estimated at 54% for drilling (31-rig fleet), 55% for well servicing and 25% for coiled tubing. In Colombia only three of eight rigs are on contract, with operations suspended or about to be, and all expected to resume in April if commodity prices improve. It raises no capital despite the filing category label.
23 Dec 2015material agreement▼ BadMajor
On December 23, 2015 Pioneer signed a Fourth Amendment cutting its revolver from $300 million to $200 million and moving maturity forward from September 2019 to March 31, 2019. Pricing rises to LIBOR plus 4.75%, availability is now tied to a borrowing base, capital spending is capped at $50 million a year, and cash above $25 million must be used to repay loans. The total leverage and asset coverage tests are dropped and the senior leverage and interest coverage limits are loosened. Pioneer also said it recently sold four SCR drilling rigs for $17.3 million in total, and expects $95.0 million drawn at year-end 2015; the CEO attributed the amendment to further deterioration in commodity prices and weak demand.
29 Oct 2015quarterly activities report▼ Bad
PIONEER ENERGY SERVICES LLC reported quarterly revenue of $107.5 million and a net loss of $17.5 million for the period ended 2015-09-30.
29 Oct 2015quarterly activities report▼ Bad
PIONEER ENERGY SERVICES LLC reported quarterly revenue of $107.5 million and a net loss of $17.5 million for the period ended 2015-09-30.
15 Sept 2015material agreement▼ BadMajor
On September 15, 2015 Pioneer signed a Third Amendment to its Wells Fargo credit agreement. Commitments were cut from $350 million to $300 million, the cap on unsecured or subordinated debt from $675 million to $400 million, and borrowing margins and the commitment fee were raised (Eurodollar margin now 2.25%-4.50%, up from 2.00%-3.00%). In exchange, the total leverage limits were loosened, starting at 4.00x for September 30, 2015 and rising to a 5.50x maximum from June 2016 to March 2017; the September 2019 maturity is unchanged and $110.0 million was drawn. This reverses the September 2014 expansion to $350 million, and the loosened limits suggest, as an inference, that Pioneer wanted more covenant room.
30 July 2015quarterly activities report▼ Bad
PIONEER ENERGY SERVICES LLC reported quarterly revenue of $135.0 million and a net loss of $77.3 million for the period ended 2015-06-30.
30 July 2015quarterly activities report▼ Bad
PIONEER ENERGY SERVICES LLC reported quarterly revenue of $135.0 million and a net loss of $77.3 million for the period ended 2015-06-30.
15 May 2015securities registration● Neutral
PIONEER ENERGY SERVICES LLC registered a securities offering with the SEC using its shelf eligibility.