EX-25.1 20 dex251.htm FORM T-1 STATEMENT OF ELIGIBILITY Form T-1 Statement of Eligibility

Exhibit 25.1

 

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM T-1

 

 

STATEMENT OF ELIGIBILITY UNDER

THE TRUST INDENTURE ACT OF 1939 OF A

CORPORATION DESIGNATED TO ACT AS TRUSTEE

 

¨ Check if an Application to Determine Eligibility of a Trustee Pursuant to Section 305(b)(2)

 

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

(Exact name of Trustee as specified in its charter)

 

 

 

A National Banking Association

(Jurisdiction of incorporation or

organization if not a U.S. national bank)

 

94-1347393

I.R.S. Employer Identification No.

101 North Phillips Aveune

Sioux Falls, South Dakota

  57104
(Address of principal executive offices)   (Zip Code)

Wells Fargo & Company

Law Department, Trust Section

MAC N9305-175

Sixth Street and Marquette Avenue, 17th Floor

Minneapolis, Minnesota 55479

612-667-4608

(Name, address and telephone number of agent for service)

 

 

Pioneer Drilling Company

(Exact name of obligor as specified in its charter)

 

 

 

Texas   74-2088619

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. Employer

Identification No.)

1250 N.E. Loop 410, Suite 1000

San Antonio, Texas

  78209
(Address of Principal Executive Offices)   (Zip Code)

 

 

9.875% Senior Notes Due 2018

(Title of the Indenture Securities)

 

 

 


Exact Name of Guarantor as Specified in its Charter(1)

   State or  Other
Jurisdiction of
Incorporation  or
Formation
   IRS Employer Identification Number
     

Pioneer Drilling Services, Ltd.

   Texas    74-2982497

Pioneer Production Services, Inc.

   Delaware    26-2031361

Pioneer Global Holdings, Inc.

   Delaware    37-1544707

Pioneer Well Services, LLC

   Delaware    05-0607572

Pioneer Wireline Services Holdings, Inc.

   Delaware    87-0796455

Pioneer Wireline Services, LLC

   Delaware    43-2092205

Pioneer Fishing & Rental Services, LLC

   Delaware    04-3814399

 

(1) The address for each guarantor is 1250 N.E. Loop 410, Suite 1000, San Antonio, Texas 78209.

FORM T-1

Item 1. General Information. Furnish the following information as to the trustee.

 

  (a) Name and address of each examining or supervising authority to which it is subject.

 

     Comptroller of the Currency
     Treasury Department
     Washington, D.C.

 

     Federal Deposit Insurance Corporation
     Washington, D.C.

 

     Federal Reserve Bank of San Francisco
     San Francisco, California 94120

 

  (b) Whether it is authorized to exercise corporate trust powers.

 

     The trustee is authorized to exercise corporate trust powers.

Item 2. Affiliations with Obligor. If the obligor is an affiliate of the trustee, describe each such affiliation.

 

  None with respect to the trustee.

No responses are included for Items 3-14 of this Form T-1 because the obligor is not in default as provided under Item 13.

Item 15. Foreign Trustee. Not applicable.

Item 16. List of Exhibits. List below all exhibits filed as a part of this Statement of Eligibility.

 

2


Exhibit 1. A copy of the Articles of Association of the trustee now in effect.*

 

Exhibit 2. A copy of the Comptroller of the Currency Certificate of Corporate Existence and Fiduciary Powers for Wells Fargo Bank, National Association, dated February 4, 2004.**

 

Exhibit 3. See Exhibit 2

 

Exhibit 4. Copy of By-laws of the trustee as now in effect.***

 

Exhibit 5. Not applicable.

 

Exhibit 6. The consent of the trustee required by Section 321(b) of the Act.

 

Exhibit 7. A copy of the latest report of condition of the trustee published pursuant to law or the requirements of its supervising or examining authority.

 

Exhibit 8. Not applicable.

 

Exhibit 9. Not applicable.

 

* Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as Exhibit 25 to the Form S-4 dated December 30, 2005 of Hornbeck Offshore Services LLC file number 333-130784-06.
** Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as Exhibit 25 to the Form T-3 dated March 3, 2004 of Trans-Lux Corporation file number 022-28721.
*** Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as Exhibit 25 to the Form S-4 dated May 26, 2005 of Penn National Gaming Inc. file number 333-125274.

 

3


SIGNATURE

Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the trustee, Wells Fargo Bank, National Association, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Fort Worth and State of Texas on the 10 day of August, 2010.

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

/s/ John C. Stohlmann

John C. Stohlmann
Vice President

 

4


EXHIBIT 6

August 10, 2010

Securities and Exchange Commission

Washington, D.C. 20549

Gentlemen:

In accordance with Section 321(b) of the Trust Indenture Act of 1939, as amended, the undersigned hereby consents that reports of examination of the undersigned made by Federal, State, Territorial, or District authorities authorized to make such examination may be furnished by such authorities to the Securities and Exchange Commission upon its request thereof.

 

Very truly yours,
WELLS FARGO BANK, NATIONAL ASSOCIATION

/s/ John C. Stohlmann

John C. Stohlmann
Vice President

 

5


Consolidated Report of Condition of

Wells Fargo Bank National Association

of 101 North Phillips Avenue, Sioux Falls, SD 57104

And Foreign and Domestic Subsidiaries,

at the close of business March 31, 2010, filed in accordance with 12 U.S.C. §161 for National Banks.

 

     Dollar Amounts
In Millions

ASSET

  

Cash and balances due from depository institutions:

  

Noninterest-bearing balances and currency and coin

   $ 16,410

Interest-bearing balances

     44,873

Securities:

  

Held-to-maturity securities

     0

Available-for-sale securities

     140,265

Federal funds sold and securities purchased under agreements to resell:

  

Federal funds sold in domestic offices

     1,091

Securities purchased under agreements to resell

     3,199

Loans and lease financing receivables:

  

Loans and leases held for sale

     25,990

Loans and leases, net of unearned income

     706,137

LESS: Allowance for loan and lease losses

     21,371

Loans and leases, net of unearned income and allowance

     684,766

Trading Assets

     29,567

Premises and fixed assets (including capitalized leases)

     8,244

Other real estate owned

     3,758

Investments in unconsolidated subsidiaries and associated companies

     536

Direct and indirect investments in real estate ventures

     121

Intangible assets

  

Goodwill

     21,238

Other intangible assets

     28,750

Other assets

     57,082
      

Total assets

   $ 1,065,890
      

LIABILITIES

  

Deposits:

  

In domestic offices

   $ 718,242

Noninterest-bearing

     150,608

Interest-bearing

     567,634

In foreign offices, Edge and Agreement subsidiaries, and IBFs

     85,329

Noninterest-bearing

     1,397

Interest-bearing

     83,932

Federal funds purchased and securities sold under agreements to repurchase:

  

Federal funds purchased in domestic offices

     5,562

Securities sold under agreements to repurchase

     14,003


     Dollar Amounts
In Millions

Trading liabilities

     10,396

Other borrowed money (includes mortgage indebtedness and obligations under capitalized leases)

     55,783

Subordinated notes and debentures

     21,583

Other liabilities

     28,269
      

Total liabilities

   $ 939,167

EQUITY CAPITAL

  

Perpetual preferred stock and related surplus

     0

Common stock

     520

Surplus (exclude all surplus related to preferred stock)

     98,967

Retained earnings

     21,137

Accumulated other comprehensive income

     4,440

Other equity capital components

     0
      

Total bank equity capital

     125,064

Noncontrolling (minority) interests in consolidated subsidiaries

     1,659
      

Total equity capital

     126,723
      

Total liabilities, and equity capital

   $ 1,065,890
      

I, Howard I. Atkins, EVP & CFO of the above-named bank do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true to the best of my knowledge and belief.

Howard I. Atkins

EVP & CFO    

We, the undersigned directors, attest to the correctness of this Report of Condition and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true and correct.

John Stumpf                                                          Directors

Carrie Tolstedt

Michael Loughlin

 

2