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Forbes Energy Services Ltd FLSS

Forbes Energy Services Ltd. is an independent oilfield services contractor. The Company provides a range of well site services to oil and natural gas drilling and producing companies. It operates through three segments. The well servicing segment utilizes a fleet of well servicing rigs, which is comprised of workover rigs, swabbing rigs, and other related assets and equipment. The coiled tubing segment utilizes its fleet of coiled tubing units to provide a range of services accomplishing a 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 a fleet of fluid transport trucks and related assets, including specialized vacuum, high-pressure pump and tank trucks, frac tanks, water wells, salt-water disposal wells and facilities, and related equipment.


GREY:FLSS - Post by User

Bullboard Posts
Post by Scotch12on Oct 26, 2011 10:14am
415 Views
Post# 19182301

Why the offer on the 9% Notes?

Why the offer on the 9% Notes?Does anyone know why the offer on recently issued debt (see below)? I hope they are reducing the interest rate or the level of debt.______________________________________________________________________________ ______________________________________________________________________________FORBES ENERGY SERVICES TO COMMENCE EXCHANGE OFFER OF 9% SENIOR NOTES DUE 2019Forbes Energy Services Ltd. commenced on Oct. 11, 2011, the offer to exchange any and all of the $280-million total principal amount of the issuer's outstanding 9 per cent senior notes due 2019, which were sold in transactions exempt from registration under the Securities Act of 1933, as amended, for an equal total principal amount of the issuer's 9 per cent senior exchange notes due 2019. The issuance of the new notes has been registered under the act.
Bullboard Posts