Pioneer Energy Services Renews Contracts with Ecopetrol for 8 Rigs in Colombia

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Pioneer Energy Services
PES
today announced it has renewed its drilling contracts with Ecopetrol (NYSEL EC) for all eight of its drilling rigs in Colombia effective January 1, 2014. Pioneer recently operated six rigs for Ecopetrol under contracts that expired on December 31, 2013. The renewed contracts have a one-year fixed term and a slight improvement in day rates as compared to the current contracts.
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Posted In: EarningsNewsGuidanceFinancingOfferingsManagementGlobal
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