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David Stanley Ford

Bronco Drilling has loss for third-quarter

FROM STAFF REPORTS    Comments Comment on this article0
Published: November 7, 2009

Bronco Drilling Co. on Friday reported losses of $42.7 million, or $1.60 per share, for the third quarter.

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The Edmond-based company lost $917,000, or 3 cents a share, in the same quarter last year.

This year’s quarterly report included several nonrecurring items, officials said, including a recognized loss of $24 million on the sale of a 60 percent interest in subsidiary Bronco MX.

Bronco had an average of 45 rigs available to drill during the quarter, up three from the same period in 2008.

Only 23 percent of the company’s rigs were utilized in the third quarter, down from 84 percent in the third quarter of last year.

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David Stanley Ford


Related Topics: Business, Company Activities and Information, Earnings and Losses, Corporate Reporting, Earnings and Loss Announcements


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