Pioneer Energy posts quarterly loss

SAN ANTONIO — Pioneer Energy Services posted a net loss for the third quarter of $17.5 million, or 27 cents a share, compared with net income of $12.5 million, or 19 cents a share, for the year-earlier period.

The San Antonio-based company said its adjusted net loss was $16.1 million, or 25 cents a share, compared with net income of $6.2 million, or 9 cents a share, for the third quarter of last year.

Those results slightly missed analysts’ estimates that Pioneer would post a loss of 24 cents a share. Analysts generally ignore one-time items.

The company said revenue in the quarter declined 61 percent, to $107.5 million, compared with $273.3 million for the third quarter of 2014. Analysts had expected revenue of $110 million.

Pioneer provides land contract drilling services and production services to independent and major oil and gas exploration and production companies.

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