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Last $1.08 USD
Change Today -0.01 / -0.92%
Volume 15.1K
FES On Other Exchanges
As of 8:10 PM 07/27/15 All times are local (Market data is delayed by at least 15 minutes).

forbes energy services ltd (FES) Snapshot

Previous Close
Day High
Day Low
52 Week High
07/28/14 - $5.47
52 Week Low
01/12/15 - $0.83
Market Cap
Average Volume 10 Days
Shares Outstanding
Dividend Yield

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forbes energy services ltd (FES) Details

Forbes Energy Services Ltd., an independent oilfield services contractor, provides a range of well site services for oil and natural gas drilling and producing companies to develop and enhance the production of oil and natural gas in the United States. The company operates in two segments, Well Servicing and Fluid Logistics. The Well Servicing segment offers well maintenance services, including remedial repairs, and removal and replacement of downhole production equipment; well workovers, such as downhole repairs, re-completions, and re-perforations; completion and swabbing services; plugging and abandoning services; and oil and natural gas production tubing testing services. As of December 31, 2014, it utilized a fleet of 169 owned well servicing rigs, which included 158 workover rigs and 11 swabbing rigs; 6 coiled tubing spreads; 9 tubing testing units; 4 electromagnetic scan trucks; and related assets and equipment. The Fluid Logistics segment provides, transports, stores, and disposes various drilling and produced fluids used in oil and natural gas production. This segment is involved in fluid hauling activities; the disposal of salt water, and incidental non-hazardous oil and natural gas wastes produced from oil and natural gas wells; rental of fluid storage tanks for use by oilfield operators to store various fluids at wellsites; and sale and transportation of various chemicals and fluids used in drilling, completion, and workover operations for oil and natural gas wells. It owned or leased 453 fluid service vacuum trucks, trailers, and other hauling trucks; operated 23 disposal wells; and owned a fleet of 3,209 fluid storage tanks. The company has operations in the onshore oil and natural gas producing regions of Texas, as well as in Mississippi and Pennsylvania. Forbes Energy Services Ltd. is headquartered in Alice, Texas.

2,232 Employees
Last Reported Date: 03/27/15

forbes energy services ltd (FES) Top Compensated Officers

Chairman, Chief Executive Officer, President,...
Total Annual Compensation: $650.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $425.0K
Chief Operating Officer, Executive Vice Presi...
Total Annual Compensation: $650.0K
Compensation as of Fiscal Year 2014.

forbes energy services ltd (FES) Key Developments

Forbes Energy Services Ltd. Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2015; Provides Capital Expenditure Guidance for 2015

Forbes Energy Services Ltd. reported unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenues of $84.333 million compared to $109.911 million a year ago. Operating income was $0.356 million compared to $5.421 million a year ago. Net loss from continuing operations was $4.434 million compared to $1.293 million a year ago. Net loss attributable to common shareholders was of $4.628 million or $0.21 per basic and diluted share compared to $1.487 million or $0.07 per basic and diluted share a year ago. Adjusted EBITDA was $14.638 million compared to $19.513 million a year ago. Net cash provided by operating activities totaled $21.4 million for the three months ended March 31, 2015, compared to $18.7 million for the three months ended December 31, 2014. The increase in cash provided by operating activities was primarily due to various changes in working capital in the normal course of business, primarily related to accounts receivable and accounts payable. Capital expenditures for equipment received during the three months ended March 31, 2015 amounted to $4.0 million comprised of additions to the Company's fluid logistics segment of approximately $700 thousand and additions to its well servicing segment of approximately $3.3 million. As stated above, cash paid by the Company for the $4.0 million of capital expenditures for equipment received during the three months ended March 31, 2015 was $2.0 million. Planned capital expenditures for the balance of 2015, include two swabbing rigs for approximately $350,000 each, ordered prior to 2015, and equipment purchases related to operating lease maturities estimated at approximately $4.1 million.

Forbes Energy Services Ltd., Q1 2015 Earnings Call, May 14, 2015

Forbes Energy Services Ltd., Q1 2015 Earnings Call, May 14, 2015

Forbes Energy Services Ltd., Annual General Meeting, Jun 05, 2015

Forbes Energy Services Ltd., Annual General Meeting, Jun 05, 2015., at 09:00 Central Daylight. Location: Hyatt Regency Houston, 1200 Louisiana Street. Agenda: To elect a board of six directors, each to serve until its next annual meeting of shareholders or until their respective successors have been duly elected and qualified; to ratify the reappointment of BDO USA, LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2015; to consider a non-binding advisory vote on executive officers' compensation; and to transact such other business as may properly come before the Annual Meeting and any postponement(s) or adjournment(s) thereof.


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Price/Book 2.8x
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