Forbes Energy Services Reports Selected Operating Data for February 2010
ALICE, Texas, March 11 /PRNewswire-FirstCall/ -- Forbes Energy Services Ltd. (TSX: FRB) today announced its rig and trucking hours billed for the month of February 2010.
For the month ending |
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February 28, 2010 |
January 31, 2010 |
February 28, 2009 |
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Working days |
20 |
20 |
20 |
||||
Rig hours |
|||||||
U.S. |
20,305 |
19,962 |
21,551 |
||||
Mexico |
5,688 |
6,360 |
1,412 |
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Total rig hours |
25,993 |
26,322 |
22,963 |
||||
Truck hours |
82,319 |
83,625 |
68,665 |
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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, "Our U.S. operations continue to show signs of improvement in activity. We see this trend continuing through 2010 with expectations that price improvement will follow. While our prices in Mexico are set by contract, Mexico hours are heavily dependent on customer scheduling, access to sites, and other factors resulting in swings in hours between periods."
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 |
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361-664-0549 |
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DRG&E |
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Ken Dennard, Managing Partner |
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Ben Burnham, AVP |
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713-529-6600 |
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SOURCE Forbes Energy Services Ltd.
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