Selected Operating Data for January 2010
posted on
Feb 10, 2010 06:21AM
Edit this title from the Fast Facts Section
Attention Business And Energy Editors
Forbes Energy Services Reports Selected Operating Data for January 2010
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ALICE, Texas, Feb. 10 /CNW/ -- Forbes Energy Services Ltd. (TSX: FRB)
today announced its rig and trucking hours billed for the month of January
2010.
For the month ending
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January 31, 2010 December 31, 2009 January 31, 2009
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Working days 20 20 21
Rig hours
U.S. 19,962 18,296 26,016
Mexico 6,360 5,976 -
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Total rig hours 26,322 24,272 26,016
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Truck hours 83,625 78,130 89,383
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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, "We're pleased to report that the new year has seen a continuation
of the recent upward trend in rig and truck hours. Based on industry trends
and conversations with customers, we expect to see gradual improvement
throughout 2010, driven largely by oil related activity and the growth of the
Eagle Ford Shale play in South 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.
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Contacts: Forbes Energy Services Ltd.
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L. Melvin Cooper, SVP & CFO
361-664-0549
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DRG&E
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Ken Dennard, Managing Partner
Ben Burnham, AVP
713-529-6600
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/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./