Pioneer Energy Services Corp. (NYSE: PES) said March 4 it will offer up to $250 million, in aggregate principal amount, of its senior notes due 2022.
Net proceeds will fund part of the company’s previously announced cash tender offer for up to $250 million outstanding 9.78% senior notes due 2018, Pioneer said. Proceeds will also pay related premiums, fees and expenses, the company added.
Pioneer will redeem any untendered notes, the company said.
Pioneer Energy Services Corp., based in San Antonio, Texas, provides land contract drilling and production services to oil and natural gas E&P companies.
Recommended Reading
Canadian Natural Resources Boosting Production in Oil Sands
2024-03-04 - Canadian Natural Resources will increase its quarterly dividend following record production volumes in the quarter.
Kimmeridge Fast Forwards on SilverBow with Takeover Bid
2024-03-13 - Investment firm Kimmeridge Energy Management, which first asked for additional SilverBow Resources board seats, has followed up with a buyout offer. A deal would make a nearly 1 Bcfe/d Eagle Ford pureplay.
SilverBow Rejects Kimmeridge’s Latest Offer, ‘Sets the Record Straight’
2024-03-28 - In a letter to SilverBow shareholders, the E&P said Kimmeridge’s offer “substantially undervalues SilverBow” and that Kimmeridge’s own South Texas gas asset values are “overstated.”
CEO: Coterra ‘Deeply Curious’ on M&A Amid E&P Consolidation Wave
2024-02-26 - Coterra Energy has yet to get in on the large-scale M&A wave sweeping across the Lower 48—but CEO Tom Jorden said Coterra is keeping an eye on acquisition opportunities.
Flame Acquisition Holders Approve Merger with Sable Offshore
2024-02-14 - The business combination among Flame Acquisition Corp., Sable Offshore Holdings and Sable Offshore Corp. will be renamed Sable Offshore Corp.