ALICE, Texas, Jan. 14 /PRNewswire-FirstCall/ -- 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
Total rig hours
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.
Forbes Energy Services Ltd.
L. Melvin Cooper, SVP & CFO
Ken Dennard, Managing Partner
Ben Burnham, AVP
SOURCE Forbes Energy Services Ltd.