Pioneer Appoints New CFO

Pioneer Drilling Company reports that Joyce M. Schuldt has agreed to join the Company as Executive Vice President, Chief Financial Officer and Secretary. William D. Hibbetts, the Company's former Chief Financial Officer, will continue to have a senior management position in the Company's financial organization.

Ms. Schuldt, age 42, was most recently Senior Vice President, Chief Financial Officer and Secretary of Maverick Tube, a leading manufacturer of tubular products for the energy industry and industrial applications, until Maverick's acquisition by Tenaris, S.A. in October 2006. While at Maverick, she helped restructure the Company into multiple business units, led the Company's efforts to expand internationally, and managed the Company's capital markets, mergers and acquisitions and investor relations activities. From February 2002 until joining Maverick in March 2003, Ms. Schuldt was Vice President-International Acquisitions and Operations and International Controller for CSI Leasing, Inc., an equipment financier with operations throughout North America, Central and South America and Europe. Before joining CSI, Ms. Schuldt was employed by Ernst & Young for 12 years. She is a certified public accountant and an attorney.

Wm. Stacy Locke, Pioneer Drilling's President and Chief Executive Officer, stated, "We are excited to have Joyce join the Pioneer Drilling team. With her experience, she will add depth to our already outstanding team and help us as we continue to identify opportunities to grow. She will work closely with Bill Hibbetts, who has been instrumental in Pioneer Drilling's growth since he joined the Company initially in 1982. We look forward to his continuing contributions in his new role."