Forbes Energy Services Reports Selected Operating Data for June 2010


    
    ~ Rig hours up 48% year-over-year ~

    ~ Truck hours up 35% year-over-year ~






    
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<p>ALICE, Texas, <span class="xn-chron">July 13</span> /CNW/ -- Forbes Energy Services Ltd. (TSX: FRB) today announced its rig and trucking hours for the month of <span class="xn-chron">June 2010</span>.</p>
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                                       For the month ending
                                       --------------------
                      June 30, 2010       May 31, 2010      June 30, 2009
                      -------------       ------------      -------------
    Working days                    22                  20                22
    Rig hours
      U.S.                      28,446              25,202            18,947
      Mexico                     5,880               6,312             4,320
                                 -----               -----             -----
      Total rig hours           34,326              31,514            23,267
    
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    Truck hours                 90,399              92,873            67,034



    
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<p><span class="xn-person">John Crisp</span>, Forbes Energy's President and Chief Executive Officer, commented, "Rig and truck hours where impacted by the tropical storms and weather in South Texas and <span class="xn-location">Mexico</span>.  Even so, our U.S. rig hours per day increased 3% for the month versus the prior month.  Daily truck hours decreased 6% as a direct result of the weather which impacts trucking more severely due to the fact that trucks are continually moving and have to have site access as opposed to rigs that are able to work for a period of time at the location.  Additionally, we have been focusing on repositioning our assets to other areas, primarily South Texas, in order improve productivity.  Rates have continued to improve throughout the quarter.  The increased hours and rates will be reflected in our second quarter results.</p>
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<p>"Although all of our <span class="xn-location">Mexico</span> rigs are in the field, it too was impacted partially by the tropical weather and partially by routine matters such as land owner access, and the timing of road and site preparation.  We expect <span class="xn-location">Mexico</span> rig hours to continue in the range of those reported over the past few months."</p>
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<p>U.S. rigs generally work all weekdays except holidays.  <span class="xn-location">Mexico</span> rigs generally work every day except holidays.  Trucks generally operate every day except Sundays and holidays.   Rig and truck hours represent actual hours billed to customers.</p>
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<p>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.</p>
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<p>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 <span class="xn-location">Mexico</span>.</p>
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    Forward-Looking Statements
    
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<p>This press release contains "forward-looking statements," as contemplated by the Private Securities Litigation Reform Act of 1995, in which the Company discusses factors it believes may affect its performance in the future. The accuracy of the Company's assumptions, expectations, beliefs and projections depend on events or conditions that change over time and are thus susceptible to change based on actual experience, new developments and known and unknown risks. The Company gives no assurance that the forward-looking statements will prove to be correct and does not undertake any duty to update them. The Company's actual future results might differ from the forward-looking statements made in this press release for a variety of reasons, which include: supply and demand for oilfield services and the level of oil and natural gas prices; the continued uncertainty in the global financial markets and its effect on domestic spending in the oil and natural gas industry; the Company's ability to maintain or improve pricing on its core services; the potential for excess capacity in the industry; competition and the ability to obtain additional cash resources through a financing or other permitted transaction. Should one or more of the foregoing risks or uncertainties materialize, or should the Company's underlying assumptions prove incorrect, the Company's actual results may vary materially from those anticipated in its forward-looking statements, and the Company's business, financial condition and results of operations could be materially and adversely affected.   Additional factors that you should consider are set forth in detail in the Risk Factors section of the Company's Annual Report on Form 10-K for the year ended <span class="xn-chron">December 31, 2009</span> (the "Form 10-K") as well as other filings the Company has made with the Securities and Exchange Commission.</p>
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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





    

For further information: 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.

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