Forbes Energy Services Ltd. (FLSS)

Overview

Forbes Energy Services, Ltd., established in 2003, is a leading independent oilfield services contractor in the United States, dedicated to assisting oil and natural gas drilling and producing companies in enhancing the production of oil and natural gas. The company's operations are divided into three primary segments: Well Servicing, Coiled Tubing, and Fluid Logistics, each tailored to meet the varied needs of its clientele through a comprehensive range of services. Operating with a substantial fleet that includes 141 well servicing rigs and 103 fluid service vacuum trucks, among other specialized equipment, Forbes Energy Services is headquartered in Alice, Texas, where it continues to build its reputation for delivering reliable and efficient services.

Products and Services

Well Servicing

• Maintenance and Repairs: Services include remedial repairs, and removal and replacement of downhole production equipment to ensure the continued efficiency and safety of wells.

• Workovers: This involves downhole repairs, re-completions, and re-perforations to optimize well productivity.

• Completion and Swabbing Services: Assists in the initial production phase of wells and the removal of fluids to stimulate production.

• Plugging and Abandonment: Offers secure and environmentally safe methods for closing non-productive wells.

• Pressure Testing: Conducts tests on oil and natural gas production equipment, ensuring integrity through the scanning of tubing for pitting and wall thickness.

Coiled Tubing

• Horizontal Completions and Maintenance: Utilizes coiled tubing for a variety of purposes including well bore clean-outs, maintenance, and nitrogen services to enhance production efficiency.

• Formation Stimulation: Applies acid and other chemicals, as well as pre-and post-hydraulic fracturing services to stimulate well production.

Fluid Logistics

• Transportation and Disposal: Manages the movement, storage, and disposal of drilling and produced fluids, focusing on the environmental handling of salt water and incidental non-hazardous wastes.

• Fluid Storage: Provides fluid storage tanks for various fluids used in drilling, completion, and workover operations, catering to the needs at well sites.

• Chemical and Fluid Sales: Offers a variety of chemicals and fluids essential for drilling, completion, and workover operations, ensuring supply meets demand for operational efficiency.