Bronco Drilling Closes Stock Offering

Bronco Drilling Company, Inc. a Delaware corporation, closed of its offering on November 2, 2005, of a total of 4,025,000 shares of common stock at a price of $23.00 per share. The offering included a total of 525,000 shares purchased pursuant to the underwriters' overallotment option, which was exercised in full on October 31, 2005.

The Company intends to use a portion of the net proceeds from the offering to repay approximately $50.0 million in borrowings incurred in connection with the Company's recent Thomas acquisition, and use the balance, together with cash flow from operations, to refurbish rigs in the Company's inventory and for general corporate purposes, which may include the purchase of additional rigs. Pending use for refurbishment and general corporate purposes, the Company may use all or a portion of such proceeds to repay other outstanding borrowings.