Pioneer Energy Services (PES) Sees Q2 Production Service Revenue Down 16-20%

From time to time, senior management of Pioneer Energy Services (NYSE: PES) meets with groups of investors and business analysts. The slides attached to this report have been prepared in connection with management's participation in such meetings and participation in the GHS 100 Energy Conference on June 22, 2015. The slides provide an update on the Company's operations and certain recent developments, which among others, include the following:

Q2 Guidance Update

• Production service revenue expected to be down 16-20% relative to guidance of down 12-15% from the first quarter of 2015 due to impacts from adverse weather in certain operating locations and continued weakness in pricing and activity levels

Drilling

• Quarter-to-date utilization through May was 65%; current utilization is 53%◦
• In Colombia, seven rigs currently stacked with the 8th rig expected to stack by the end of June

Well Servicing

• Quarter-to-date utilization through May was 74% as compared to 79% in the prior quarter

Coiled Tubing

• Quarter-to-date utilization through May was 28% as compared to 35% in the prior quarter

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