Forbes Energy Services Ltd.

Forbes Energy Services Ltd.

Forbes Energy Services Ltd.

Overview
Date Founded

2017

Headquarters

3000 South Business Highway 281, Alice, TX, 78332, USA

Type of Company

Public

Employees (Worldwide)

1,178

Industries

Oil & Gas

Company Description

Forbes Energy Services Ltd. provides drilling-related and production-related services to oil and natural gas companies. It operates through the Well Servicing, Coiled Tubing and Fluid Logistics segments. The Well Servicing segment provides well maintenance services, including remedial repairs and removal and replacement of downhole production equipment; well workovers, including downhole repairs, re-completions and re-perforations; completion and swabbing activities; plugging and abandoning services; and testing of oil and natural gas production tubing. The Coiled Tubing segment provide a range of services accomplishing a wide variety of goals including horizontal completions, well bore clean-outs and maintenance, nitrogen services, thru-tubing services, formation stimulation using acid and other chemicals, and other pre- and post-hydraulic fracturing well preparation services. The Fluid Logistics segment utilizes its fleet of owned and leased fluid transport truck and related assets to provide, transport, store, and dispose of a variety of drilling and produced fluids. The company was founded by John E. Crisp, Janet L. Forbes and Charles C. Forbes, Jr. in September 2003 and is headquartered in Alice, TX.

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Executives & Employees

Chairman of the Board, Chief Executive Officer & Director

President & Co-Chief Operating Officer

Chief Financial Officer, Secretary & Senior Vice President

Executive Vice President & Chief Operating Officer

Manager

Manager Information Technology

Central Region Manager

Senior Analyst

Board of Directors

Chairman of the Board, Chief Executive Officer & Director at Forbes Energy Services Ltd.

Managing Partner at Solace Capital Partners LP

Chief Investment Officer & Managing Director at Ascribe Capital LLC

Managing Director at UBS Warburg LLC (US)

Operating General Partner at Altos Energy Partners LLC

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Recent Transactions
Details Hidden

Forbes Energy Services Ltd. purchases Cretic Energy Services LLC from Catapult Energy Services Group LLC

Details Hidden

Dirivera Investments LLC, RGV Holding SA de CV purchase Forbes Energy Services Ltd. /Mexico Business (2) from Forbes Energy Services Ltd.

Details Hidden

Forbes Energy Services Ltd. raised money in a private placement transaction

Transaction Advisors
Underwriter

Advised onForbes Energy Services Ltd. issued CAD Common Stock

Auditor

Advised onForbes Energy Services Ltd. issued CAD Common Stock

Underwriter

Advised onForbes Energy Services Ltd. issued CAD Common Stock

Associate

Advised onDirivera Investments LLC, RGV Holding SA de CV purchase Forbes Energy Services Ltd. /Mexico Business (2) from Forbes Energy Services Ltd.

Legal Advisor

Advised onDirivera Investments LLC, RGV Holding SA de CV purchase Forbes Energy Services Ltd. /Mexico Business (2) from Forbes Energy Services Ltd.

Legal Advisor

Advised onForbes Energy Services Ltd. purchases Cretic Energy Services LLC from Catapult Energy Services Group LLC

Advisors & Consultants
Legal Advisor

Partner Partner at Bennett Jones LLP

Clients

Pioneer Natural Resources is a large independent oil and natural gas company that is focused on helping meet the world’s energy needs. We deliver strong production and reserve growth through onshore exploration and production in the United States, while providing opportunities for growth and enrichment for business partners, employees and the communities in which we operate. With a foundation of long-lived and stable properties providing steady growth, Pioneer’s advanced technology, strategic practices and integrated services model make us an industry leader in developing new resource plays, especially in Texas. Pioneer is one of the most active drillers in Texas’ Spraberry/Wolfcamp oil field in the Permian Basin and the Eagle Ford Shale play in South Texas. We are one of the largest natural gas operators in the Rockies and Mid-Continent regions with assets in the coal bed methane-rich Raton Basin as well as in the Hugoton and Texas Panhandle gas fields. Our operations include ongoing drilling programs in Texas’ liquids-rich Barnett Shale Combo play and in Alaska’s Oooguruk field, where Pioneer became the first independent operator to produce oil on the North Slope

ConocoPhillips has a time-honored tradition of placing safety, health and environmental stewardship at the top of our operating priorities. This will not change as we move forward as an independent company. Our technical capability, asset quality and scale, and financial strength are unmatched among independent upstream companies and uniquely position us to compete anywhere in the world. While North America is our home and provides the majority of our production, we are active in almost 30 countries and in a wide range of geologic and geographic settings, including some of the world’s most challenging areas. From the frozen Arctic to the arid desert, we have a proven track record of responsibly and efficiently exploring for and producing oil and natural gas. Our production streams include light oil, heavy oil, oil sands, natural gas liquids, conventional natural gas, coalbed methane, shale gas and oil, and liquefied natural gas (LNG). By combining our legacy strengths with the focus and culture of an independent company, we believe we can unlock potential for all our stakeholders by helping to meet the world’s energy needs. Our highly skilled and dedicated workforce of over 16,000 employees embraces this opportunity. We look forward to sharing our exciting future with you and invite you to learn more about us

outhwestern Energy Company is a growing independent energy company primarily engaged in natural gas and crude oil exploration, development and production within North America. We are also focused on creating and capturing additional value through our natural gas gathering and marketing businesses, which we refer to as Midstream Services. Exploration and Production - Our primary business is the exploration for and production of unconventional oil and natural gas. Our current operations are principally focused on development of unconventional oil and natural gas in the Fayetteville Shale in Arkansas, the Marcellus Shale in Pennsylvania, the Brown Dense in Arkansas and Louisiana and other new venture plays in North America. We primarily conduct our exploration and production operations through our wholly-owned subsidiaries, SEECO, Inc. and Southwestern Energy Production Company, or SEPCO. SEECO has historically operated exclusively in Arkansas. It holds a large base of both developed and undeveloped gas reserves in Arkansas and conducts the drilling programs for the Fayetteville Shale play and the conventional drilling program in the Arkansas part of the Arkoma Basin. SEPCO conducts development drilling and exploration programs in the Oklahoma portion of the Arkoma Basin, Texas, Pennsylvania, Louisiana, Colorado and Montana. SWN Drilling, a wholly-owned subsidiary of SEPCO, operates drilling rigs in the Fayetteville Shale play, Pennsylvania and Louisiana. Midstream Services - Our Midstream Services segment primarily supports our E&P operations and is currently concentrated on the Fayetteville Shale play. Midstream Services generates revenue from gathering fees associated with the transportation of natural gas to market and through the marketing of our own gas production and some third-party natural gas. We engage in gas gathering activities in Arkansas, Pennsylvania and Texas through our gathering subsidiaries, DeSoto Gathering Company, L.L.C. and Angelina Gathering Company, L.L.C. Our gas marketing subsidiary, Southwestern Energy Services Company, or SES, captures downstream opportunities which arise through marketing and transportation activity.

Key Stats and Financials As of 2018
Market Capitalization
$1.02M
Total Enterprise Value
$138M
Earnings Per Share
$-6.07
Revenue
$181M
Net Profit
$-32.6M
EBITDA
$13.9M
EBITDAMargin
7.67%
Total Debt
$130M
Total Equity
$91.4M
Enterprise Value Sales
0.76x
Enterprise Value EBITDAOperating
9.96x
TEVNet Income
-4.24x
Debt TEV
0.94x
Five Year Compounded Annual Growth Rate Of Revenue
-15.5%
Three Year Compounded Annual Growth Rate Of Revenue
-9.51%
Suppliers
TETRA Technologies, Inc. Industrial Machinery & Manufacturing | The Woodlands, TX

TETRA Technologies, Inc. is a geographically diversified oil and gas services company. It engages in the completion of fluids and associated products and services. It operates through the following segments: Completion Fluids and Products; Compression; and Water and Flowback Services. The Completion Fluids and Products division manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry. The Compression division offers compression services and equipment for natural gas and oil production, gathering, transportation, processing, and storage. The Water and Flowback Services division provides onshore oil and gas operators with comprehensive water management services. The company was founded in 1981 and is headquartered in The Woodlands, TX.

Competitors
Superior Energy Services, Inc. Oil & Gas - Houston, Texas

Superior Energy Services, Inc. engages in the provision of oilfield services and equipment. It operates through the following segments: Drilling Products & Services, Onshore Completion & Workover Services, Production Services and Technical Solutions. The Drilling Products and Services segment provides downhole drilling tools and surface rentals. The Onshore Completion and Workover Services segment offers pressure pumping, fluid management and workover services. The Production Services segment gives intervention services. The Technical Solutions segment involves in the products and services that address customer-specific needs with applications, which typically require engineering, manufacturing or project planning. The company was founded by Terence E. Hall in 1989 and is headquartered in Houston, TX.

Key Energy Services, Inc. Oil & Gas - Houston, TX

Key Energy Services, Inc. engages in the provision of onshore energy production services. It operates through the following segments: Rig Services; Fishing and Rental Services; Coiled Tubing Services; Fluid Management Services. The The Rig Services segment includes the completion of newly drilled wells, work over, and recompletion of existing oil and natural gas wells, well maintenance, and the plugging and abandonment of wells. The Fishing and Rental Services segment provides drilling and workover services. The Coiled Tubing Services segment offers use of a continuous metal pipe spooled onto a large reel which is then deployed into oil and natural gas wells. The Fluid Management Services segment covers the provision of transportation and well-site storage services for fluids utilized in connection with drilling, completions, work over, and maintenance activities. The company was founded in April 1977 and is headquartered in Houston, TX.

Basic Energy Services, Inc. Oil & Gas - Fort Worth, Texas

Founded in 1992, Basic Energy Services provides a range of services to help America’s oil and gas producers keep more than 900,000 existing wells in production throughout their lifecycle - from the initial drilling of the well to ongoing maintenance to plugging and abandonment. Today, more than 5,700 Basic Energy Services professionals provide essential services to over 2,000 oil and gas companies throughout the major oil and gas producing regions in Texas, Louisiana, Oklahoma, New Mexico, Arkansas, Kansas, the Appalachian Region and the Rocky Mountain States. Based in Fort Worth, Texas, Basic Energy Services, Inc. trades on the NYSE under the ticker symbol “BAS”

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