Pioneer Energy Services Corp. announced that it has emerged from Chapter 11 bankruptcy protection, successfully completing its debt restructuring process and implementing the Chapter 11 reorganization plan confirmed by the U.S. Bankruptcy Court for the Southern District of Texas on May 11, 2020. The Company also announced a newly constituted Board of Directors, effective in conjunction with the Company’s emergence from Chapter 11. The new Board is comprised of David Coppé, John Jacobi, Wm. Stacy Locke, Matt Porter, and Charlie Thompson. Pursuant to the Plan, as of the Effective Date, the following directors ceased to serve on the Company’s board of directors: Dean A. Burkhardt, Tamara Morytko, J. Michael Rauh, C. John Thompson and Scott D. Urban. Charlie Thompson currently serves as chairman of the board and chief executive officer at Nuverra Environmental Solutions. Mr. Thompson founded PinHigh Capital Partners, a Houston-based family office affiliated investment partnership with a focus on private oil service and exploration and production investments. David Coppé currently serves on the board of Legacy Reserves Inc. He also serves on the board of RDV Resources (f/k/a Sheridan I). Mr. Coppé served as director and head of energy, private equity of Caisse de Dépôt et Placement du Québec from March 2017 until March 2019. Mr. Coppé was also a co-founder and partner at Cadent Energy Partners, LLC and chief executive officer of Probe Holdings Inc. John Jacobi began his full-time employment in the energy business in 1981 working for Woolf & Magee Inc. In 1991, Mr. Jacobi co-founded Jacobi-Johnson Energy Inc. In June 2013, Mr. Jacobi co-founded Covey Park Energy Inc., again focusing on acquisitions and served as its co-chief executive officer. Covey Park Energy Inc. was sold to Comstock Resources in July 2019, and Mr. Jacobi currently serves on its board.