Superior Quality 1000 Horsepower Cooper Workover Drilling - Questions

3 67. 0 67. 0 65. 7 Usage rate 96% 90% 90% 90% 90% Earnings days 6,017 5,559 5,475 16,528 16,149 Average revenues each day $20,658 $19,161 $19,954 $20,183 $19,360 Typical operating expense per day 11,691 11,735 11,740 11,987 11,569 Drilling services margin daily (2) $8,967 $7,426 $8,214 $8,196 $7,791 Production Providers Division: Profits $49,948 $- $43,297 $106,602 $- Operating expenses 25,025 - 21,916 53,871 - Production services margin (1) $24,923 $- $21,381 $52,731 $- EBITDA (3) $64,747 $33,411 $53,366 $154,318 $109,440 Reconciliation of combined Drilling services margin and Production services margin and EBITDA to net earnings: Drilling services margin $53,955 $41,279 $44,973 $135,472 $125,820 Production services margin 24,923 - 21,381 52,731 - Combined margin 78,878 41,279 66,354 188,203 125,820 General and administrative (12,840) (5,252) (12,150) (32,712) (13,792) Uncollectable bill (expense) recovery 260 (2,627) 92 216 (2,627) Other income (expense) (1,551) 11 (930) (1,389) 39 EBITDA 64,747 33,411 53,366 154,318 109,440 Devaluation and amortization (24,225) (16,093) (20,580) (61,924) (46,927) Interest earnings (expenditure), net (3,568) 717 (4,060) (8,617) 2,459 Income tax expense (12,760) (6,255) (9,609) (28,619) (22,886) Net revenues $24,194 $11,780 $19,117 $55,158 $42,086 (1) Drilling services margin represents agreement drilling profits less contract drilling operating expense.

Pioneer thinks that Drilling services margin and Production services margin are beneficial procedures for examining financial performance, although they are not steps of monetary performance under GAAP. However, Drilling  Related Source Here  and Production services margin are common procedures of running performance used by financiers, monetary analysts, rating companies and Pioneer's management.

Martech Energy - Land Rigs

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Drilling services margin and production services margin as provided might not be comparable to other resemblance entitled measures reported by other business. (2) Drilling services margin per revenue day represents the Drilling Services Division's typical revenue per income day less average operating expense per revenue day. (3) We define EBITDA as incomes prior to interest income (expenditure), taxes, depreciation and amortization.