Bronco Drilling Reports Higher Utilization for Workover Fleet in April

Bronco Drilling Company, a provider of drilling and workover services to oil and natural gas exploration and production companies, has said that utilization for the company’s workover fleet was 76% for April compared to 75% for the previous month and 77% for the first quarter of 2008.

The company said utilization for the drilling fleet was 78% for the month of April 2008, compared to 74% for the previous month and 69% for the first quarter of 2008. The company had an average of 45 marketed drilling rigs in April 2008, compared to 45 in the previous month and 45 for the first quarter of 2008.

The average dayrate on operating drilling rigs as of April 30, 2008, was $16,563 compared to $16,657 as of March 31, 2008, and $17,101 for the first quarter of 2008.

The company had an average of 53 marketed workover rigs in April 2008 compared to 50 in the previous month and 48 for the first quarter of 2008.