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Basic Energy Services reports selected operating data for September 2013


Published Oct 16, 2013
Basic Energy Services, Inc.

Basic Energy Services, Inc. reported selected operating data for the month of September 2013. Basic's well servicing rig count remained unchanged at 425. Well servicing rig hours for the month were 69,300 producing a rig utilization rate of 71%, compared to 77% and 71% in August 2013 andSeptember 2012, respectively.

During the month, Basic's fluid service truck count decreased by one to 969. Fluid service truck hours for the month were 189,600 compared to 200,300 and 175,000 in August 2013 and September 2012, respectively.

Drilling rig days for the month were 267 producing a rig utilization of 74%, compared to 75% and 80% in August 2013 andSeptember 2012, respectively.

Roe Patterson, Basic's President and Chief Executive Officer, stated, "Activity declined in each of our operating segments compared to August due to a combination of one less weekday and the Labor Day holiday. In addition, wet conditions in our Rocky Mountain and South Texas operating areas slowed activity late in the month. Although competition continued to be intense, we were able to hold pricing flat in most markets.

Tags: Basic Energy Services




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