Pioneer Energy Service Corp. announced that Wm. Stacy Locke has decided to step down as Chief Executive Officer of the Company effective July 17, 2020. Mr. Locke has been President and Chief Executive Officer of the Company since December 2003 and has been associated with the Company in various leadership capacities for over 25 years. Matt Porter, a member of the Company's Board of Directors will serve as interim Chief Executive Officer until a successor is appointed. Mr. Porter, age 44, has been a director of the Company since May 29, 2020. He is currently a founding partner at Activos, LLC, a consulting company in the domestic and international oilfield service industry and Allied Industrial Partners, an investment firm that focuses on investments in manufacturing, distribution, energy and industrial service companies. Previously, he was a chief executive officer, president and director at Xtreme Drilling Corp. and chief financial officer at Bronco Drilling Company. He started his career at BOK Financial Corp. as a portfolio manager.