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FES - Forbes Energy Services Ltd

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FES Profile

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Forbes Energy Services Ltd. (FES) is a provider of drilling and production-related services to oil and natural gas companies in the United States. The company offers a range of services, including well maintenance and workover services, fluid logistics services, and drilling rig rental services.

Forbes Energy Services was founded in 2003 and is headquartered in Alice, Texas. As of my knowledge cutoff of September 2021, the company was facing some financial challenges due to the impact of the COVID-19 pandemic on the energy industry. The company's total revenue for the fiscal year 2020 was $90.4 million, representing a decline from $162.5 million in the previous year. Net loss for the same period was $36.9 million, an improvement from a net loss of $57.6 million in the previous year.

Forbes Energy Services has a market capitalization of approximately $15 million as of my knowledge cutoff of September 2021, and its stock is listed on the OTC Pink market under the ticker symbol FESXQ.

The energy services industry is subject to various risks, including changes in demand for oil and natural gas services, fluctuations in commodity prices, and competition from other service providers. The COVID-19 pandemic has also posed significant challenges for the industry. However, Forbes Energy Services' focus on providing a range of drilling and production-related services and its efforts to address its financial challenges should position it for improved performance in


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