Bronco Drilling Company announces monthly operating results
  by: OilOnline
  Friday, April 11, 2008

Bronco Drilling Company, Inc. has announced operational results for the month ended and as of March 31, 2008.

Utilization for the Company’s drilling fleet was 74% for the month of March compared to 70% for the previous month and 73% for the fourth quarter of 2007. The Company had an average of 45 marketed drilling rigs in March compared to 45 in the previous month and 48 for the fourth quarter of 2007. The average dayrate on operating drilling rigs as of March 31, 2008, was $16,657 compared to $16,891 as of February 29, 2008, and $17,258 for the fourth quarter of 2007.

Utilization for the Company’s workover fleet was 75% for the month of March compared to 74% for the previous month and 75% for the fourth quarter of 2007. The Company had an average of 50 marketed workover rigs in March compared to 48 in the previous month and 42 for the fourth quarter of 2007.

The Company cautions that several factors other than those discussed above may impact the Company’s operating results and that a particular trend regarding the factors above may or may not be indicative of the Company’s current or future financial performance. 

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