Bronco Drilling Bucks High for June

Bronco Drilling Company, Inc. announced its operational results for the month ended and as of June 30, 2008.

Utilization for the Company’s drilling fleet was 83% for the month of June compared to 85% for the previous month and 69% for the first quarter of 2008. The Company had an average of 45 marketed drilling rigs in June compared to 45 in the previous month and 45 for the first quarter of 2008. The average dayrate on operating drilling rigs as of June 30, 2008, was $17,564 compared to $16,561 as of May 31, 2008, and $17,101 for the first quarter of 2008. The increase in average dayrate on operating drilling rigs as of June 30, 2008, is partially due to a wage increase initiated during June for Bronco field personnel that is contractually passed through to Bronco’s customers. The wage increase resulted in a $750 increase in the average dayrate.

Utilization for the Company’s workover fleet was 74% for the month of June compared to 74% for the previous month and 77% for the first quarter of 2008. The Company had an average of 54 marketed workover rigs in June compared to 53 in the previous month and 48 for the first quarter of 2008.

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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