The Company

About The Company

Forbes Energy Services (“Forbes”), an independent oilfield contractor, originated from the merger of CC Forbes Company and Texas Energy Services, which were both established in 2003 in Alice, Texas, the hub of the oil and gas market at that time. The company’s humble beginning was founded on an experienced management team and a modest fleet of one well service rig and a twin set of vacuum trucks and trailers. Since then, Forbes has expanded both its geographic footprint and its capabilities to include well site services that span the life cycle of oil and natural gas wells throughout Texas and beyond.

The company’s fluid logistics division provides fluid products and mixing, transportation and disposal of oilfield waste, fluid storage tanks, hot oil and other fluid related services. Through its well servicing division, the company provides well maintenance, completion services, workovers and re-completions, plugging and abandonment, and tubing testing. Our 24 operating locations are concentrated in the major onshore oil and natural gas producing regions of Texas and in Pennsylvania. Forbes’ broad range of services is fundamental to establishing and maintaining the flow of oil and natural gas throughout the life of a well.

• Well Servicing. Our well servicing segment utilizes our modern fleet of 173 well servicing rigs, six coiled tubing spreads, nine tubing testing units, and related equipment. These assets are used to perform (i) well maintenance, including remedial repairs and removal and replacement of down-hole production equipment, (ii) well workovers, including significant down-hole repairs, re-completions and re-perforations, (iii) completion and swabbing activities, (iv) plugging and abandonment, and (v) pressure testing of oil and natural gas production tubing and scanning tubing for pitting and wall thickness.

The majority of our well servicing equipment is less than 10 years old and, as part of our operational strategy, has enhanced design specifications to better address operational and safety issues characteristic of older equipment operated by others in the industry. These enhancements include increased derrick height and weight ratings, increased mud pump horsepower, and engineered safety designs.

• Fluid Logistics. Our fluid logistics segment is made up of a large fleet of fluid transport trucks and related equipment, including specialized vacuum trucks, high-pressure pump trucks, frac tanks, saltwater disposal facilities. These assets are used to provide, transport, store, and dispose of a variety of drilling and produced fluids used in, and generated by, oil and natural gas production. These services are required in most workover and completion projects and are routinely used in daily operations of producing wells.

Experienced Management

John E. Crisp, Charles C. Forbes, and our senior management team, have cultivated deep and ongoing relationships with our customers through years of experience in the oilfield services industry. Senior management has more than 70 years of combined oilfield services experience. Our location managers have an average experience of more than 30 years in the industry.

Industry-Leading Safety Record

Forbes' reputation for safety is critical to the purchasing and operations managers of its top-tier customers. Forbes has a history of purchasing and deploying new rigs with enhanced safety features. Embedded in the company is a culture built on the philosophy that each individual owns safety and is responsible for the care of themselves and those around them. These two mantras help define the company’s efforts toward building a safe work environment and delivering an industry-leading safety performance.

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