OverviewSuggest Edit

Forbes Energy Services is an independent oilfield contractor, originated from the merger of CC Forbes Company and Texas Energy Services. The Company provides a comprehensive offering of well servicing activities to oil and natural gas companies, including completions of newly drilled oil and natural gas wells, wellbore maintenance, workovers and re-completions, tubing testing, plugging and abandonment services.

TypePublic
Founded2008
HQAlice, TX, US
Websiteforbesenergyservices.com
Employee Ratings2.6

Latest Updates

Employees (est.) (Dec 2018)1,178(+40%)
Revenue (FY, 2019)$188.4 M(+5%)
Share Price (Sept 2021)$0.1(-8%)
Cybersecurity ratingAMore

Key People/Management at Forbes Energy Services

John Crisp

John Crisp

President, CEO & Director
Melvin Cooper

Melvin Cooper

Senior Vice President, Chief Financial Officer & Assistant Secretary
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Forbes Energy Services Office Locations

Forbes Energy Services has an office in Alice
Alice, TX, US
3000 S U.S. Hwy 281 #2108
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Forbes Energy Services Financials and Metrics

Forbes Energy Services Revenue

Forbes Energy Services's revenue was reported to be $188.42 m in FY, 2019
USD

Revenue (Q1, 2020)

30.5m

Net income (Q1, 2020)

(59.8m)

EBIT (Q1, 2020)

(54.2m)

Market capitalization (15-Sept-2021)

697.8k

Closing stock price (15-Sept-2021)

0.1

Cash (31-Mar-2020)

8.1m

EV

138.3m
Forbes Energy Services's current market capitalization is $697.8 k.
Annual
USDFY, 2011FY, 2012FY, 2014FY, 2016FY, 2018FY, 2019

Revenue

445.8m472.6m449.3m116.2m180.9m188.4m

Cost of goods sold

159.6m

Gross profit

28.8m

Gross profit Margin, %

15%
Quarterly
USDQ2, 2011Q3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020

Revenue

127.1m133.2m131.5m119.8m114.3m101.7m103.7m31.9m28.4m27.9m27.0m27.9m34.3m35.6m41.2m47.6m58.4m51.1m44.2m30.5m

General and administrative expense

13.9m6.9m10.7m8.1m7.3m7.3m7.6m6.1m5.4m4.2m4.5m3.1m6.5m4.9m5.9m6.5m6.8m5.4m5.2m5.9m

Operating expense total

13.9m6.9m10.7m8.1m7.3m7.3m7.6m49.4m60.2m44.1m4.5m31.7m40.8m41.8m48.0m51.5m6.8m5.4m5.2m5.9m

Depreciation and amortization

13.5m13.7m12.5m5.7m7.1m7.2m7.7m7.6m9.4m7.0m6.5m6.1m
USDQ2, 2011

Debt/Equity

2.5 x

Debt/Assets

0.6 x

Financial Leverage

4.4 x
Show all financial metrics

Forbes Energy Services Cybersecurity Score

Cybersecurity ratingPremium dataset

A

97/100

SecurityScorecard logo

Forbes Energy Services Online and Social Media Presence

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Forbes Energy Services News and Updates

Forbes Energy Services Announces: Combination of Forbes Energy Services with US onshore oilfield services business of Superior Energy

ALICE, Texas, Dec. 18, 2019 /PRNewswire/ -- Forbes Energy Services Ltd. ("Forbes" or the "Company") (OTCPK: FLSS) today announced that it entered into a definitive agreement to combine with the U.S. service rig, coiled tubing, wireline, pressure control, flowback, fluid management and...

Forbes Energy Services Ltd. Announces Results Of Rights Offering

ALICE, Texas, March 4, 2019 /PRNewswire/ -- Forbes Energy Services Ltd. (OTCQX: FLSS) ("Forbes" or the "Company") today announced the results of its previously announced rights offering to shareholders (the "Rights Offering"), which expired on February 28, 2019. Pursuant to the Rights...

Forbes Energy Services Acquires Cretic Energy Services

ALICE, Texas, Nov. 16, 2018 (GLOBE NEWSWIRE) -- Forbes Energy Services, Ltd. (OTCQX: FLSS) (“Forbes”), announced today that it has acquired Cretic Energy Services, LLC (“Cretic” or the “Company”) from Catapult Energy Services Group, LLC, an NGP and NGP Energy Technology Partners portfolio company.…

Forbes Energy Services Frequently Asked Questions

  • When was Forbes Energy Services founded?

    Forbes Energy Services was founded in 2008.

  • Who are Forbes Energy Services key executives?

    Forbes Energy Services's key executives are John Crisp and Melvin Cooper.

  • How many employees does Forbes Energy Services have?

    Forbes Energy Services has 1,178 employees.

  • What is Forbes Energy Services revenue?

    Latest Forbes Energy Services annual revenue is $188.4 m.

  • What is Forbes Energy Services revenue per employee?

    Latest Forbes Energy Services revenue per employee is $160 k.

  • Who are Forbes Energy Services competitors?

    Competitors of Forbes Energy Services include Ranger Energy Services, NexTier Oilfield Solutions and Barnwell Industries.

  • Where are Forbes Energy Services offices?

    Forbes Energy Services has an office in Alice.

  • How many offices does Forbes Energy Services have?

    Forbes Energy Services has 2 offices.