Bronco Drilling Company, Inc., (Nasdaq/GM:BRNC), announced today operational results for the month ended and as of June 30, 2007.
Utilization for the Company's drilling fleet was 82% for the month of June compared to 77% for the previous month and 79% for the first quarter of 2007. The Company had an average of 53 marketed rigs in June compared to 52 in the previous month and 51 for the first quarter of 2007. The average dayrate on operating rigs as of June 30, 2007, was $17,213 compared to $17,448 as of May 31, 2007, and $18,749 for the first quarter of 2007.
Utilization for the Company's workover fleet was 69% for the month of June compared to 79% for the previous month and 86% for the first quarter of 2007. The Company had an average of 30 marketed workover rigs in June compared to 30 in the previous month and 24 for the first 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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