A Former Employee W.

Pioneer Drilling Co. Q3 2008 Earnings Call Transcript

Exceeded expectations? Exceeded goals? Congratulations to you and your stockholders on a successful quarter. Business sounds as though it is going great. Oh, wait a second, why so many layoffs in the week of Christmas? Hmmm, are we sure things are going so smooth? Laying off entire rigs seems as though it is a pretty big deal, unless the employees have done something adverse to company wishes or some misconduct. But, I know of one rig that was punished because Pioneer could not make nice with the contractor. So, the contractor is done with Pioneer. I bet Pioneer is hurting now, or are they? Ahhh, probably not. I am sure they will exceed expectations and goals this quarter with no problem. Gotta meet the profit margin. Of course this is business. But what about the roughneck that has given time to his rig, given his time to Pioneer, busted his knuckles and wore his back down every day? Bah, forget about him. What about that stockholder that has given his $$$money$$$(all that matters) to the company. We want his portfolio to stay in the green, otherwise he cannot afford that new car or piece of land or whatever you "fortunate" people do with money. I have ranted far more than originally intended. I was told of your profits in the last quarter by another (former) co-worker and had to read the report myself. And reading this is totally deflating and demoralizing. Right at Christmas...I know two people who are more than likely going to file bankruptcy because of this. Others may lose their house. You see, some are so young in this oilfield that they have not established the more oft needed connections to get a job on another rig, where, they too are freezing hiring. And it is for these guys I worked with, these guys I love, my family, that I rant for now. You can do much better than this. Grow a conscience Mr. West.