Bronco Drilling Company has reported that utilization for the company's drilling fleet was 64% for January 2008, compared to 71% for December 2007 and 76% for the third quarter of 2007.
The company had an average of 45 marketed rigs in January 2008, compared to 47 in December 2007 and 53 in the third quarter of 2007. The average dayrate on operating rigs as of January 31, 2008 was $17,369, compared to $17,476 as of December 31, 2007 and $17,256 for the third quarter of 2007.
Utilization for the company’s workover fleet was 82% for the month of January 2008, compared to 75% for December 2007 and 78% for the third quarter of 2007. The company had an average of 48 marketed workover rigs in January 2008, compared to 45 in December 2007 and 35 in the third quarter of 2007.