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A reconciliation of each such step to its most straight similar GAAP monetary measure, together with a description of why management thinks that these non-GAAP monetary procedures offer beneficial details to financiers, is offered below. (1) We specify EBITDA as earnings before interest income (expense), taxes, depreciation and amortization. Although not prescribed under  This Is Cool , our company believe the discussion of EBITDA is appropriate and useful due to the fact that it helps our financiers understand our operating efficiency and makes it much easier to compare our outcomes with those of other companies that have various funding, capital or tax structures.

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A reconciliation of earnings to EBITDA is consisted of in the operating figure table in this news release. EBITDA, as we determine it, might not be comparable to EBITDA measures reported by other business. In addition, EBITDA does not represent funds readily available for discretionary use. (2) Drilling Solutions margin represents contract drilling earnings less agreement drilling operating expenses.

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We believe that Drilling Solutions margin and Production Providers margin work steps for evaluating monetary performance, although they are not measures of financial performance under GAAP. However, Drilling Solutions margin and Production Services margin are common measures of operating efficiency utilized by financiers, financial experts, ranking firms and Pioneer management.

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 incomes per day $20,658 $19,161 $19,954 $20,183 $19,360 Typical operating costs daily 11,691 11,735 11,740 11,987 11,569 Drilling services margin each day (2) $8,967 $7,426 $8,214 $8,196 $7,791 Production Solutions Department: Incomes $49,948 $- $43,297 $106,602 $- Running costs 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 incomes: 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) Bad debt (expenditure) healing 260 (2,627) 92 216 (2,627) Other income (expenditure) (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), internet (3,568) 717 (4,060) (8,617) 2,459 Income tax expenditure (12,760) (6,255) (9,609) (28,619) (22,886) Net incomes $24,194 $11,780 $19,117 $55,158 $42,086 (1) Drilling services margin represents agreement drilling earnings less contract drilling operating costs.

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Leader believes that Drilling services margin and Production services margin are useful steps for assessing financial efficiency, although they are not procedures of financial efficiency under GAAP. Nevertheless, Drilling services margin and Production services margin are common measures of running efficiency used by investors, financial analysts, ranking agencies and Pioneer's management.

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