OCTOBER 19, 2001 – San Antonio, Texas – Pioneer Drilling Company (AMEX: PDC) today announced plans to release results for its fiscal second quarter ended September 30, 2001 on Thursday, November 1, 2001 at 6:00 a.m. eastern time.

Pioneer Drilling has scheduled a conference call for Thursday, November 1, 2001 at 11:00 a.m. eastern time. Participating in the call will be Michael E. Little, Chairman and Chief Executive Officer, and Wm. Stacy Locke, President and Chief Financial Officer.

To participate in the call, dial 913-981-4911 at least ten minutes before the conference call begins and ask for the Pioneer Drilling conference call. A replay of the call will be available approximately two hours after the call ends and will be accessible until November 8, 2001. To access the replay, dial 719-457-0820 and enter the pass code 717865.

Investors, analysts and the general public will also have the opportunity to listen to the conference call free over the Internet by visiting http://www.easterlyir.com. To listen to the live call on the web, please visit the website at least fifteen minutes early to register, download and install any necessary audio software. For those who cannot listen to the live webcast, an archive will be available shortly after the call ends.

For more information, please contact Karen Roan at Easterly Investor Relations at (713) 529-6600 or email karen@easterly.com.

Pioneer Drilling Company provides contract land drilling services to independent and major oil and gas operators drilling wells in central, south and east Texas. The Company’s fleet consists of 19 land drilling rigs that drill in depth ranges between 10,000-18,000 feet. Pioneer Drilling also has a 1700-hp technologically advanced land rig under construction.