Pioneer Drilling Prices Common Stock Offering

SAN ANTONIO, Texas, Nov. 12 /PRNewswire-FirstCall/ -- Pioneer Drilling Company
(NYSE Amex: PDC) (the "Company") today announced that it has priced a public
offering of 3.82 million newly issued shares of its common stock at a public
offering price of $6.75 per share. Jefferies & Company, Inc. is the sole
underwriter for this offering. The Company has granted the underwriter a
30-day option to purchase up to 573,000 additional shares to cover
over-allotments, if any. The offering is expected to close on November 17,
2009, subject to customary closing conditions. The Company intends to use the
proceeds it receives from the offering (net of underwriting discounts and
expenses) for general corporate purposes, which may include capital
expenditures, working capital, acquisitions or the repayment or refinancing of
indebtedness.

The shares will be issued pursuant to an effective shelf registration
statement that was previously filed with the Securities and Exchange
Commission (the "SEC"). The offering is being made by means of a prospectus
and related prospectus supplement. Copies of the prospectus and prospectus
supplement relating to the offering may be obtained from Jefferies & Company,
Inc., 520 Madison Avenue, New York, NY 10022, 1-888-449-2342.

This announcement is neither an offer to sell nor a solicitation of an offer
to buy any of these securities, and shall not constitute an offer,
solicitation or sale in any jurisdiction in which such offer, solicitation or
sale is unlawful.

Certain matters discussed in this news release are forward-looking statements
that involve certain risks and uncertainties, including the offering of the
common stock and the proceeds therefrom. These risks and uncertainties include
among other things, the stability of the capital markets, other market
conditions, customary closing conditions, and other factors and uncertainties
inherent in providing contract drilling and well services discussed in
Pioneer's filings with the SEC. Specifically, Pioneer cannot assure you that
the proposed transaction described above will be consummated on the terms
currently contemplated, if at all. Pioneer disclaims any obligation to update
publicly its forward-looking statement, whether as a result of new
information, future events or otherwise.

Contacts: Lorne E. Phillips, CFO
Pioneer Drilling Company
(210) 828-7689

Lisa Elliott / lelliott@drg-e.com
Anne Pearson / apearson@drg-e.com
DRG&E / (713) 529-6600

SOURCE Pioneer Drilling Company, Inc.

Lorne E. Phillips, CFO, Pioneer Drilling Company, +1-210-828-7689; or Lisa
Elliott, lelliott@drg-e.com, or Anne Pearson, apearson@drg-e.com, both of
DRG&E, +1-713-529-6600