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A reconciliation of each such measure to its most straight comparable GAAP monetary step, together with an explanation of why management thinks that these non-GAAP financial steps offer helpful details to investors, is supplied below. (1) We define EBITDA as profits before interest income (cost), taxes, devaluation and amortization. Although not prescribed under  Key Reference , we think the presentation of EBITDA is pertinent and useful because it helps our financiers understand our operating performance and makes it simpler 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 included in the operating fact table in this news release. EBITDA, as we calculate it, may not be similar to EBITDA procedures reported by other companies. In addition, EBITDA does not represent funds available for discretionary use. (2) Drilling Services margin represents agreement drilling profits less contract drilling operating costs.

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Our company believe that Drilling Services margin and Production Providers margin are helpful procedures for assessing monetary efficiency, although they are not measures of financial performance under GAAP. Nevertheless, Drilling Solutions margin and Production Providers margin are typical steps of operating efficiency utilized by investors, financial experts, score agencies and Leader management.

3 67. 0 67. 0 65. 7 Utilization rate 96% 90% 90% 90% 90% Income 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 Average operating expense 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 Providers Department: Earnings $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 (cost) healing 260 (2,627) 92 216 (2,627) Other earnings (cost) (1,551) 11 (930) (1,389) 39 EBITDA 64,747 33,411 53,366 154,318 109,440 Depreciation and amortization (24,225) (16,093) (20,580) (61,924) (46,927) Interest income (expense), internet (3,568) 717 (4,060) (8,617) 2,459 Earnings tax expenditure (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 contract drilling earnings less agreement drilling operating expenses.

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Pioneer thinks that Drilling services margin and Production services margin are helpful measures for evaluating financial performance, although they are not steps of financial performance under GAAP. However, Drilling services margin and Production services margin are common procedures of operating performance used by financiers, monetary experts, rating companies and Pioneer's management.

Drilling services margin and production services margin as provided may not be comparable to other similarity entitled procedures reported by other companies. (2) Drilling services margin per earnings day represents the Drilling Solutions Division's typical revenue per earnings day less average operating expenses per income day. (3) We specify EBITDA as earnings prior to interest income (expenditure), taxes, depreciation and amortization.