Question-and-Answer Session
Operator
(Operator Instructions). And our first question comes from the line of Marshall Adkins with Raymond James. Please go ahead.
Marshall Adkins - Raymond James
Good morning, Stacy. Actually that was an excellent overview and obviously a very, very nice performance this quarter. You didn’t really quantify any meaningful hurricane impact this quarter. Did that, I mean, great numbers, but could they have been better without the hurricane; and if so, quantify that a little bit.
Stacy Locke
Well, the I didn’t even address it on the land – as you know on the land side, when you have a hurricane approaching there were probably, I'm guessing Red, about a half a dozen rigs that we secured and we released the cruise on. Usually that reverts to a portion of these euro rates that we're not really hurt by it but where we had more of the impact was on the work-over side. There we had a number of rigs and that protects the Gulf Coast. In fact, still today we have one rig that is back in service that took on quite a bit of weather and we are kind of going through it and clean it up and making sure it's in good shape, but we anticipate or we estimate about a 3% reduction in the quarter of rig hours for the work-over. Not modest impact on fishing and rental perhaps but other than that’s about it.
Marshall Adkins - Raymond James
Okay. All right I want to leave since we are going to be limited to we have two questions into one here. First term contracts can you give us some sense of or try to quantify going through ’09 how many of this rigs you expect to have long term contracts where they are not susceptible to weakening rates? And secondly, back of the envelope given the maintenance CapEx that Bill guide to plus your, I guess, CapEx plans are already in the works. I am still coming out with your cash flow positive, this for ’09 even in my pretty bearish environment. Does that seem to make sense for you as well so those are kind of two questions, and I'll re-queue?
Stacy Locke
I’ll answer the second question first. We also agreed that we’ll be cash flow positive. We haven’t completed our capital budget for ’09 year; we’re going to be presenting that to our Board next month, but on a very rough preliminary basis, it will be under 100 million, which is similar to what it was going into 2008. So, and that’s total CapEx growth, routine, everything rolled in, and we’ll fine tune that and it could be lower than that, but -- so we anticipate that we will have free cash flow that we would be able to further reduce our debt in this during fiscal 2009.
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