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SAN ANTONIO, July 17 /PRNewswire-FirstCall/ -- Pioneer Drilling Company (AMEX:PDC) today announced that Joyce M. Schuldt has agreed to join the Company as Executive Vice President, Chief Financial Officer and Secretary. William D. Hibbetts, the Company's former Chief Financial Officer, will continue to have a senior management position in the Company's financial organization. Ms. Schuldt, age 42, was most recently Senior Vice President, Chief Financial Officer and Secretary of Maverick Tube (NYSE:MVK), a leading manufacturer of tubular products for the energy industry and industrial applications, until Maverick's acquisition by Tenaris, S.A. in October 2006. While at Maverick, she helped restructure the Company into multiple business units, led the Company's efforts to expand internationally, and managed the Company's capital markets, mergers and acquisitions and investor relations activities. From February 2002 until joining Maverick in March 2003, Ms. Schuldt was Vice President-International Acquisitions and Operations and International Controller for CSI Leasing, Inc., an equipment financier with operations throughout North America, Central and South America and Europe. Before joining CSI, Ms. Schuldt was employed by Ernst & Young for 12 years. She is a certified public accountant and an attorney. Wm. Stacy Locke, Pioneer Drilling's President and Chief Executive Officer, stated, "We are excited to have Joyce join the Pioneer Drilling team. With her experience, she will add depth to our already outstanding team and help us as we continue to identify opportunities to grow. She will work closely with Bill Hibbetts, who has been instrumental in Pioneer Drilling's growth since he joined the Company initially in 1982. We look forward to his continuing contributions in his new role." Pioneer Drilling provides land contract drilling services to independent and major oil and gas operators drilling wells in Texas, Louisiana, Oklahoma, Kansas and in the Rocky Mountain region. Its fleet consists of 66 land drilling rigs that drill in depth ranges between 6,000 and 18,000 feet. This press release contains forward-looking information and statements that are based on management's belief, as well as assumptions made by and information currently available to management. Forward-looking information includes statements regarding Mr. Hibbetts' continuing role and our continuing identification of opportunities to grow. Although the management of Pioneer Drilling believes that the expectations reflected in such forward-looking statements are reasonable, Pioneer Drilling can give no assurance that those expectations will prove to have been correct. Such statements are subject to various risks, uncertainties and assumptions. Should one or more of those risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. These risks are discussed in greater detail in Pioneer's filings with the Securities and Exchange Commission (the "SEC"), including the Company's annual report on Form 10-K for the fiscal year ended March 31, 2006 and subsequent filings with the SEC. Contacts: Wm. Stacy Locke, CEO Pioneer Drilling Company 210-828-7689 Ken Dennard / Lisa Elliott / DRG&E / 713-529-6600 DATASOURCE: Pioneer Drilling Company CONTACT: Wm. Stacy Locke, CEO of Pioneer Drilling Company, +1-210-828-7689; or Ken Dennard, , or Lisa Elliott, , +1-713-529-6600, both of DRG&E

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