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Bronco Drilling Company, Inc. Announces Third Quarter 2005 Results

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lowman   Monday, 11/07/05 11:36:20 AM
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Bronco Drilling Company, Inc. Announces Third Quarter 2005 Results

OKLAHOMA CITY, Nov. 7 /PRNewswire-FirstCall/ -- Bronco Drilling Company, Inc., (Nasdaq/NM: BRNC), announced today financial results for the three and nine months ended September 30, 2005.
Revenues for the third quarter were a record $18.6 million compared to $11.7 million for the previous quarter and $5.4 million for the third quarter of 2004. Average operating rigs for the third quarter of 2005 grew to 15 from 12 for the previous quarter. The growth in rigs is due to the refurbishment and deployment of two of the Company's inventoried rigs during the third
quarter of 2005 as well as the acquisition of two operating rigs. Revenue days for the quarter increased to 1,284 from 1,027 for the previous quarter and from 786 for the third quarter of the previous year. Average daily cash margins(1) for the quarter ended September 30, 2005 were $5,945 compared to $4,648 for the previous quarter and $1,266 for the third quarter of the previous year...."





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