CITIZEN POWER ALLIANCE

Canada's Forbes Energy Services Ltd (FRB.TO) said it idled two rigs in the Marcellus Shale on June 4, following an unexpected gas release and hired an independent consulting firm to investigate the incident.

On Wednesday, Pennsylvania regulators ordered C.C. Forbes, a unit of oilfield services contractor Forbes Energy, to stop work on all Marcellus Shale wells following a well blowout on June 3. [ID:nN09163618]

"Forbes received the cease order on June 9, five days after idling the rigs. There were no injuries and no significant equipment damage from this incident in Clearfield County, Pennsylvania," the company said in a statement.

Forbes, which provides drilling and production-related services to oil and natural gas companies, mainly onshore in Texas, Mississippi, Pennsylvania and Mexico, said idling of the two rigs will have no material impact on its future results of operations.

(Click to read the entire article)