Forbes Energy Services to Sell Mexico Business for $30M

Forbes Energy Services Ltd. FES and announced today it and certain of the company's subsidiaries have entered into a purchase agreement with Dirivera Investments LLC and RGV Holding, S.A. de C.V. covering the sale of substantially all of Forbes Energy's assets currently located in Mexico as well as the company's equity interests in Forbes Energy Services México Servicios de Personal, S. de R.L. de C.V. for aggregate cash consideration of $30 million. The transaction is expected to be completed by January 15, 2012, subject to customary closing conditions.