Selected Operating Data for December 2009
posted on
Jan 14, 2010 06:49AM
Edit this title from the Fast Facts Section
Attention Business And Energy Editors Forbes Energy Services Reports Selected Operating Data for December 2009 ALICE, Texas, Jan. 14 /CNW/ -- Forbes Energy Services Ltd. (TSX: FRB) today announced its rig and trucking hours billed for the month of December 2009. For the month ending -------------------- December 31, 2009 November 30, 2009 December 31, 2008 ----------------- ----------------- ----------------- Working days 20 19 20 Rig hours U.S. 18,296 17,804 27,272 Mexico 5,976 5,520 -- ----- ----- --- Total rig hours 24,272 23,324 27,272 >> << Truck hours 78,130 74,478 95,401 >> Working days represent the week days in the month less holidays. Rig and truck hours represent actual hours billed to customers. << >> John Crisp, Forbes Energy's President and Chief Executive Officer, commented, "Our daily well service rig hours and trucking hours were in line with year-end seasonal expectations. We are looking forward to improvements in the first quarter of 2010 based on indications from our customers. Mexico hours also continue to show improvement as our new management team continues to streamline operations and implement more effective equipment scheduling. Overall, utilization is trending upwards in our operating areas while pricing remains flat." Forbes Energy Services cautions that several factors other than those discussed above may impact the Company's operating results and that a particular trend regarding the factors above may or may not be indicative of the Company's current or future financial performance. Forbes Energy Services Ltd. is an independent oilfield services contractor that provides a broad range of drilling-related and production-related services to oil and natural gas companies, primarily onshore in Texas, Mississippi, Pennsylvania and Mexico. << >> << Contacts: Forbes Energy Services Ltd. --------------------------- L. Melvin Cooper, SVP & CFO 361-664-0549 >> << DRG&E ----- Ken Dennard, Managing Partner Ben Burnham, AVP 713-529-6600 -30- /For further information: L. Melvin Cooper, SVP & CFO, Forbes Energy Services Ltd., +1-361-664-0549; Ken Dennard, Managing Partner, or Ben Burnham, AVP, both of DRG&E, for Forbes Energy Services Ltd., +1-713-529-6600/