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Basic Energy Services reports selected operating data for May 2015


Published Jun 15, 2015
Basic Energy Services, Inc.

Basic Energy Services, Inc. reported selected operating data for the month of May 2015. Basic's well servicing rig count remained unchanged at 421. Well servicing rig hours for the month were 48,200 producing a rig utilization rate of 50%, compared to 50% and 70% in April 2015 and May 2014, respectively.

During the month, Basic's fluid service truck count decreased by two to 1,006. Fluid service truck hours for the month were 189,900 compared to 190,600 and 213,400 in April 2015 and May 2014, respectively.

Drilling rig days for the month were 96 producing a rig utilization of 26%, compared to 34% and 89% in April 2015 and May 2014, respectively.

Roe Patterson, Basic's President and Chief Executive Officer, stated, 'Our May activity levels, excluding weather interruptions, were generally consistent with what we experienced in April. A record amount of rain-fall across our primary operating footprints substantially hampered each of our primary service lines during May. We estimate heavy rains reduced well servicing utilization by 500 basis points and fluid service truck hours by five percent, and also significantly impacted both our stimulation and rental tool service lines. The Memorial Day holiday reduced our well servicing utilization and fluid service truck hours by 200 basis points and two percent, respectively.

Tags: Basic Energy Services




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