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  • Bronco Drilling Company, Inc. (BRNC) Reports July 2010 Utilization 0 comments
    Aug 26, 2010 5:47 PM | about stocks: BRNC
    Bronco Drilling Company, Inc. released the company’s monthly operational update for July 2010. The update covers utilization and other data for the company’s land rig fleet used for oil and gas drilling in United States.

    Bronco Drilling Company, Inc. reported total fleet utilization of 56% for July 2010, approximately flat with the 56% total fleet utilization reported for June 2010. The company reported total fleet utilization of 54% for the entire second quarter of 2010.

    Bronco Drilling Company, Inc. said that it had thirty-seven marketable rigs working in July 2010, the same as June 2010 and full second quarter of 2010.

    Bronco Drilling Company, Inc. reported that the company’s rig fleet had an average day rate of $16,715 as of the end of July 2010, compared to $16,515 at the end of June 2010. The fleet had an average day rate of $15,926 for the entire second quarter of 2010.

    The management of Bronco Drilling Company, Inc. attributed the increase in the average day rate to a wage increase for the company’s rig employees. This wage increase is contractually passed through to the customers leasing the rigs.

    Bronco Drilling Company, Inc. said that its fleet is working in various oil and gas basins in the United States, including the Bakken, Marcellus, Haynesville and Woodford Shale.

    For more information on the company, go to broncodrill.com

    Please see disclaimer on QualityStocks website: disclaimer.qualitystocks.net




    Disclosure: no positions
    Stocks: BRNC
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