Pioneer Drilling Closes Senior Notes Offering

Pioneer Drilling has closed its previously announced private offering of $250 million of 9.875% Senior Unsecured Notes due 2018. Certain of Pioneer's existing and future domestic subsidiaries fully and unconditionally guaranteed the notes. Pioneer intends to use the net proceeds of the offering to repay a portion of the amount outstanding under its senior secured revolving credit facility.

The notes were offered and sold inside the United States to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended, and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act.


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