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Pioneer Energy Services forecasts return to profitability in 2018

Sergio Chapa
American City Business Journals

Executives with San Antonio-based Pioneer Energy Services Corp. are forecasting a profit in 2018 — after more than three years of losses, including a nearly $13 million loss in fourth quarter 2017. Pioneer Energy Services (PES), a drilling rig operator and oil field services company, posted a $12.7 million loss on $126.3 million in revenue during the recent fourth quarter. The figures mark an improvement over the $36.1 million loss on $71.5 million in revenue during fourth quarter 2016.