Selected Operating Data for October 2009
posted on
Nov 12, 2009 06:51AM
Edit this title from the Fast Facts Section
Attention Business And Energy Editors
Forbes Energy Services Reports Selected Operating Data for October 2009
ALICE, Texas, Nov. 12 /CNW/ -- Forbes Energy Services Ltd. (TSX: FRB)
today announced its rig and trucking hours billed for the month of October
2009.
For the month ending
--------------------
October 31, 2009 September 30, 2009 October 31, 2008
---------------- ------------------ ----------------
Working days 22 21 23
Rig hours
U.S. 17,004 15,520 39,424
Mexico 4,296 4,608 -
----- ----- -----
Total rig hours 21,300 20,128 39,424
>>
Truck hours 75,491 71,343 110,120
<<
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, "I'm pleased to report that Forbes experienced a moderate increase
in activity during October. Well Servicing benefited from increased natural
gas activity in South Texas, and to a lesser extent in East Texas. Mexico
hours were down slightly primarily due to location construction delays related
to Mexico's annual rainy season and site access negotiations with land owners.
While these are typical of operations in Mexico, we continue to focus on
mitigating delays of this type. Our Fluid Logistics segment benefited from
increased work in the oil-driven Permian Basin of West Texas."
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 of Forbes Energy
Services Ltd., +1-361-664-0549; or Ken Dennard, Managing Partner, or Ben
Burnham, AVP, both of DRG&E, +1-713-529-6600, for Forbes Energy Services Ltd./