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Forbes Energy Services Reports Selected Operating Data for October 2009
ALICE, Texas, Nov. 12 /PRNewswire-FirstCall/ -- 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
SOURCE Forbes Energy Services Ltd.