Forbes Energy Services Ltd (NASDAQ: FES) is on The StockGuru Leader Board today. The stock closed up 11.85% on Friday.
Volume was 15,734 shares traded.
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About the Company:
Forbes Energy Services Ltd., together with its subsidiaries, operates as an independent oilfield services contractor that provides various well site services to oil and natural gas drilling and producing companies for the production of oil and natural gas in the United States and Mexico. The company operates through two segments, Well Servicing, and Fluid Logistics and Other. The Well Servicing segment offers well maintenance services, including remedial repairs, and removal and replacement of downhole production equipment; well workovers services comprising significant downhole repairs, re-completions, and re-perforations; completion and swabbing activities; and plugging and abandoning services. As of March 31, 2011, it utilized a fleet of 173 owned or leased well servicing rigs, which include 162 workover rigs and 11 swabbing rigs, and related assets and equipment. This segment also has a fleet of nine tubing testing units used to conduct pressure testing of oil and natural gas production tubing. The Fluid Logistics and Other segment utilizes a fleet of owned or leased fluid transport trucks and related assets, such as specialized vacuum, high-pressure pump and tank trucks, frac tanks, water wells, salt water disposal wells and facilities, and related equipments. This segment also provides, transports, stores, and disposes various drilling and produced fluids used in and generated by oil and natural gas production. The company was founded in 2003 and is headquartered in Alice, Texas.
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