Last $5.60 USD
Change Today -0.05 / -0.88%
Volume 38.5K
FES On Other Exchanges
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As of 12:35 PM 07/25/14 All times are local (Market data is delayed by at least 15 minutes).

forbes energy services ltd (FES) Snapshot

Open
$5.63
Previous Close
$5.65
Day High
$5.69
Day Low
$5.50
52 Week High
07/17/14 - $5.75
52 Week Low
02/5/14 - $2.93
Market Cap
121.5M
Average Volume 10 Days
123.0K
EPS TTM
$-0.58
Shares Outstanding
21.7M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for FORBES ENERGY SERVICES LTD (FES)

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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, 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.

2,230 Employees
Last Reported Date: 03/26/14

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 2013.

forbes energy services ltd (FES) Key Developments

Forbes Energy Services Ltd. Announces the Retirement of Janet L. Forbes as Director

On June 11, 2014, Janet L. Forbes, a director of Forbes Energy Services Ltd. concluded her term on the Board of Directors of the Company and did not stand for re-election at the company's 2014 annual meeting of shareholders. The decision of Ms. Forbes to retire from the Board of Directors did not involve any disagreement with the company.

Forbes Energy Services Appoints Steve Macek as Executive Vice President of Well Servicing

Forbes Energy Services Ltd. announced the promotion of Steve Macek to Executive Vice President of Well Servicing. Based out of the corporate headquarters in Alice, Texas, Macek will oversee all functions of the company's well servicing operation, including conventional rig services, coiled tubing services and well abandonment. Macek joined the company in April of 2007 and has more than 30 years of management experience in the well servicing industry.

Forbes Energy Services Ltd. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013

Forbes Energy Services Ltd. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company’s total revenues were $109,659,000 against $107,007,000 a year ago. Operating income was $2,743,000 against $349,000 a year ago. Loss from continuing operations before tax was $4,339,000 against $6,755,000 a year ago. Loss from continuing operations was $3,880,000 or $0.19 per basic and diluted share against $4,369,000 or $0.22 per basic and diluted share a year ago. Net loss attributable to common shareholders was $4,072,000 or $0.19 per basic and diluted share against $3,629,000 or $0.18 per basic and diluted share a year ago. Adjusted EBITDA from U. S. operations was $18,038,000 against $14,356,000 a year ago. Capital expenditures for the quarter ended December 31, 2013, were approximately $8.4 million and consisted of specialty equipment, including hot oilers and salt water disposal equipment as well as additional well servicing equipment. For the year, the company’s total revenues were $419,933,000 against $472,597,000 a year ago. Operating income was $10,772,000 against $33,533,000 a year ago. Loss from continuing operations before tax was $17,412,000 against income of $5,578,000 a year ago. Loss from continuing operations was $12,797,000 or $0.64 per basic and diluted share against income of $2,219,000 or $0.07 per basic and diluted share a year ago. Net loss attributable to common shareholders was $13,866,000 or $0.65 per basic and diluted share against net income of $810,000 or $0.04 per basic and diluted share a year ago. Adjusted EBITDA from U. S. operations was $68,462,000 against $88,960,000 a year ago.

 

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FES:US $5.60 USD -0.05

FES Competitors

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Company Last Change
Basic Energy Services Inc $24.60 USD -3.20
Key Energy Services Inc $6.78 USD -0.02
Nuverra Environmental Solutions Inc $17.55 USD -0.35
Pioneer Energy Services Corp $17.78 USD -0.02
Superior Energy Services Inc $35.66 USD -0.23
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Industry Analysis

FES

Industry Average

Valuation FES Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.3x
Price/Book 1.0x
Price/Cash Flow 2.8x
TEV/Sales NM Not Meaningful
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