EX-99.1 2 exhibit99_1.htm PRESS RELEASE exhibit99_1.htm
Exhibit 99.1
Bronco Drilling Company, Inc. Announces Monthly Operating Results

OKLAHOMA CITY, February 9, 2010 (BUSINESS WIRE)—Bronco Drilling Company, Inc., (Nasdaq/GS:BRNC), announced today operational results for the month ended January 31, 2010.
 
Utilization for the Company’s drilling fleet was 33% for the month of January compared to 32% for the previous month and 31% for the fourth quarter of 2009.  The Company had an average of 37 marketed drilling rigs in January compared to 37 in the previous month and 37 for the fourth quarter of 2009.  The average dayrate on operating drilling rigs as of January 31, 2010, was $15,442 compared to $15,079 as of December 31, 2009, and $15,354 for the fourth quarter of 2009.
 
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.
 
About Bronco Drilling
 
Bronco Drilling Company, Inc. is a publicly held company headquartered in Edmond, Oklahoma, and is a provider of contract land drilling and workover services to oil and natural gas exploration and production companies. Bronco's common stock is quoted on The NASDAQ Global Select Market under the symbol “BRNC”. For more information about Bronco Drilling Company, Inc., visit http://www.broncodrill.com.

 
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Bronco Drilling Company, Inc.
 
Rig Status Report
 
as of January 31, 2010
                               
                         
Est. Duration (2)
 
Rig No.
  
Horsepower
  
Rig Type
  
Basin
  
Status (1)
  
Contract
  
 Days
  
Date
1
2
  
400 hp
  
M
  
 
  
I
  
 
        
2
5
  
650 hp
  
M
  
 
  
I
  
 
  
 
  
 
3
6
  
650 hp
  
M
  
 
  
I
  
 
  
 
  
 
4
7
  
650 hp
  
M
  
 
  
I
  
 
  
 
    
5
8
  
1000 hp
  
E
  
Bakken
  
O
  
Term
  
                170
  
6/19/2010
6
9
  
650 hp
  
M
  
 
  
I
  
 
  
 
  
 
7
10
  
1000 hp
  
E
  
Marcellus
  
O
  
Term
  
                396
  
1/31/2011
8
11
  
1000 hp
  
E
  
Marcellus
  
O
  
well to well
        
9
12
  
1500 hp
  
E
  
Anadarko
  
O
  
well to well
  
 
 
 
10
14
  
1200 hp
  
E
  
 
  
I
  
 
  
 
  
 
11
15
  
1200 hp
  
E
  
Haynesville
  
O
  
Term
  
                298
  
10/25/2010
12
16
  
1400 hp
  
E
  
Bakken
  
O
  
Term
  
                425
  
3/1/2011
13
17
  
1700 hp
  
E
  
Anadarko
  
O
  
well to well
  
 
  
 
14
20
  
1400 hp
  
E
  
Bakken
  
O
  
Term
  
                161
  
6/10/2010
15
21
  
2000 hp
  
E
  
Haynesville
  
O
  
well to well
  
 
  
 
16
22
  
1000 hp
  
E
  
Bakken
  
O
  
Term
  
                391
  
1/26/2011
17
23
  
1000 hp
  
E
  
Bakken
  
O
  
Term
  
                380
  
1/15/2011
18
25
  
1500 hp
  
E
  
Cotton Valley
  
O
  
well to well
  
 
  
 
19
26
  
1200 hp
  
E
  
 
  
I
      
 
  
 
20
27
  
1500 hp
  
E
  
Uinta
  
O
  
well to well
  
 
  
 
21
28
  
1200 hp
  
E
  
Bakken
  
O
  
Term
  
                349
  
12/15/2010
22
29
  
1500 hp
  
E
  
Woodford
  
O
  
Term
  
                397
  
2/1/2011
23
37
  
1000 hp
  
E
  
Marcellus
  
O
  
well to well
  
 
  
 
24
41
  
950 hp
  
M
  
 
  
I
  
 
  
 
    
25
42
  
650 hp
  
M
  
 
  
I
  
 
  
 
    
26
51
  
850 hp
  
M
  
 
  
I
  
 
  
 
    
27
52
  
850 hp
  
M
  
 
  
I
  
 
  
 
    
28
54
  
850 hp
  
M
  
 
  
I
  
 
  
 
  
 
29
56
  
1100 hp
  
M
  
 
  
I
 
 
  
 
  
 
30
57
  
1100 hp
  
M
      
I
  
 
  
 
  
 
31
59
  
1000 hp
  
E
  
Bakken
  
O
  
Term
  
                161
 
6/10/2010
32
62
  
1000 hp
  
M
  
 
  
I
  
 
  
 
  
 
33
70
  
450 hp
  
M
  
 
  
I
  
 
        
34
75
  
750 hp
  
M
  
 
  
I
  
 
  
 
 
 
35
77
  
1200 hp
  
M
  
 
  
I
  
 
  
 
  
 
36
94
  
1000 hp
  
M
  
 
  
I
  
 
        
37
97
  
850 hp
  
M
  
Anadarko
  
O
  
10 wells
  
 
    
                               
M -
Mechanical
  
    I -
Idle
                    
E -
Electric
    
O -
Operating
                    
1
Rigs classified as "operating" are under contract while rigs described as "idle" are not under contract but are being actively
 
marketed and generally ready for service.
                    
2
The estimated contract duration is derived from discussions with our customer regarding their current projection of the days
 
remaining to complete the project.
                    
 
Changes from the prior month are highlighted.
                  
                               
                               

 
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Cautionary Note Regarding Forward-Looking Statements
 
The information in this report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  These forward-looking statements include, but are not limited to, comments pertaining to estimated contract duration.  Such statements are subject to risks, uncertainties and assumptions, including, but not limited to, early termination by the customer pursuant to the contract or otherwise, cancellation or completion of certain contracts or projects earlier than expected, operating hazards and other factors described in Bronco Drilling Company, Inc’s. Annual Report on Form 10-K filed with the SEC on March 16, 2009, as amended on April 29, 2009 and  June 30, 2009 and other filings with the SEC, which are available free of charge on the SEC’s website at www.sec.gov.  Bronco cautions you that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected or implied in these statements.
 
Contact:                                
Bob Jarvis
Investor Relations
Bronco Drilling Company
(405) 242-4444 EXT: 102
bjarvis@broncodrill.com

 
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