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    Forbes Energy Services Ltd. (FES)

    1.26 Up 0.10(8.62%) Dec 19, 4:00PM EST
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    Forbes Energy Services Ltd.
    3000 South Business Highway 281
    Alice, TX 78332
    United States - Map
    Phone: 361-664-0549
    Fax: 361-664-0599
    Website: http://www.forbesenergyservices.com

    Index Membership:N/A
    Sector:Basic Materials
    Industry:Oil & Gas Equipment & Services
    Full Time Employees:2,230

    Business Summary 

    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, 2013, it utilized a fleet of 167 owned well servicing rigs, which included 157 workover rigs and 10 swabbing rigs; 5 coiled tubing spreads; 9 tubing testing units; 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 480 fluid service vacuum trucks, trailers, and other hauling trucks; operated 24 disposal wells; and owned a fleet of 3,208 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.

    Key Statistics

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    Corporate Governance 
    Forbes Energy Services Ltd.’s ISS Governance QuickScore as of Jul 1, 2013 is 8. The pillar scores are Audit: 10; Board: 7; Shareholder Rights: 9; Compensation: 7.
    Brought to you by Institutional Shareholder Services (ISS)

    Key Executives 
    Mr. John E. Crisp , 52
    Chairman, Chief Exec. Officer, Pres, Chairman of Forbes Holding Company, Chief Exec. Officer of Forbes Holding Company and Pres of Forbes Holding Company
    Mr. L. Melvin Cooper , 60
    Chief Financial Officer, Principal Accounting Officer, Sr. VP and Assistant Sec.
    Mr. Charles C. Forbes Jr., 60
    Chief Operating Officer, Exec. VP and Director
    Mr. Steve Macek ,
    Exec. VP of Well Servicing
    Amounts are as of Dec 31, 2013 and compensation values are for the last fiscal year ending on that date. Pay is salary, bonuses, etc.Exercised is the value of options exercised during the fiscal year.
    Currency in USD.
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