Pioneer Drilling to Offer Up to $250MM Senior Notes

Pioneer Drilling plans to offer up to $250 million in aggregate principal amount of senior unsecured notes due 2018 in a private placement to eligible purchasers. Certain of Pioneer's existing and future domestic subsidiaries will fully and unconditionally guarantee 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.