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Pioneer Energy Services shows signs of turnaround after three years of losses

Sergio Chapa
American City Business Journals

After enduring three years of losses, Pioneer Energy Services Corp. may be ready to turn its situation around, the company's latest quarterly earnings report suggests. Pioneer Energy Services (PES), which last reported a quarterly profit during third quarter 2014, is showing signs of life after surviving a two-year crude oil price downturn that slashed demand and prices across the oil field services sector. Pioneer's third-quarter figures beat analysts' expectations on revenue by $1.28 million.