Dominion Lending Centres Clearlease Reports Forbes Energy Services Ltd. (TSX:FRB) Q1 Profits of $1 million
VANCOUVER, BC – (May 16, 2011) Clearlease Reports Forbes Energy Services Ltd. (TSX:FRB) stated Monday May 16, 2011 that it made a small profit of $1 million in the first quarter of 2011, turning around results from a year ago on higher revenues from increased drilling activity.
The company said its first quarter net income attributable to common shareholders was equal to one cent per share, compared to an $8.2 million loss in the same quarter last year, or 10 cents per share.
Revenue was $107 million, up from $67.3 million in the first quarter of 2010.
The company said it saw near-record activity in south and west Texas as oil prices remain high, and pulled in higher revenues due to higher utilization and an increase in third party subcontractor services revenue.
Forbes said it expects activity levels to improve in the second quarter due to increased rig utilization, more trucks in the field, and the full impact of recent price increases.
Forbes Energy is an independent oilfield services contractor that provides drilling and production services to oil and natural gas companies in Texas, Mississippi, Pennsylvania and Mexico. It is traded on the Toronto Stock Exchange.
Stock in the company rose six cents, or 2.3 per cent, to $2.59 on the Toronto Stock Exchange
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
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Video Link: http://youtu.be/f_kk7WJa7Uk
VANCOUVER, BC – (May 16, 2011) Clearlease Reports Forbes Energy Services Ltd. (TSX:FRB) stated Monday May 16, 2011 that it made a small profit of $1 million in the first quarter of 2011, turning around results from a year ago on higher revenues from increased drilling activity.
The company said its first quarter net income attributable to common shareholders was equal to one cent per share, compared to an $8.2 million loss in the same quarter last year, or 10 cents per share.
Revenue was $107 million, up from $67.3 million in the first quarter of 2010.
The company said it saw near-record activity in south and west Texas as oil prices remain high, and pulled in higher revenues due to higher utilization and an increase in third party subcontractor services revenue.
Forbes said it expects activity levels to improve in the second quarter due to increased rig utilization, more trucks in the field, and the full impact of recent price increases.
Forbes Energy is an independent oilfield services contractor that provides drilling and production services to oil and natural gas companies in Texas, Mississippi, Pennsylvania and Mexico. It is traded on the Toronto Stock Exchange.
Stock in the company rose six cents, or 2.3 per cent, to $2.59 on the Toronto Stock Exchange
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
Dominion Lending Centres Clearlease Reports Forbes Energy Services Ltd. (TSX:FRB) Q1 Profits of $1 million
VANCOUVER, BC – (May 16, 2011) Clearlease Reports Forbes Energy Services Ltd. (TSX:FRB) stated Monday May 16, 2011 that it made a small profit of $1 million in the first quarter of 2011, turning around results from a year ago on higher revenues from increased drilling activity.
The company said its first quarter net income attributable to common shareholders was equal to one cent per share, compared to an $8.2 million loss in the same quarter last year, or 10 cents per share.
Revenue was $107 million, up from $67.3 million in the first quarter of 2010.
The company said it saw near-record activity in south and west Texas as oil prices remain high, and pulled in higher revenues due to higher utilization and an increase in third party subcontractor services revenue.
Forbes said it expects activity levels to improve in the second quarter due to increased rig utilization, more trucks in the field, and the full impact of recent price increases.
Forbes Energy is an independent oilfield services contractor that provides drilling and production services to oil and natural gas companies in Texas, Mississippi, Pennsylvania and Mexico. It is traded on the Toronto Stock Exchange.
Stock in the company rose six cents, or 2.3 per cent, to $2.59 on the Toronto Stock Exchange
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
