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Fort Worth's new thoroughfare plan aims for more variety in street design

Fort Worth is launching a review of its master thoroughfare plan aimed at accommodating continued suburban growth and central city redevelopment with a greater variety of streets and more efficient traffic flow.

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Holt Hickman, businessman who helped preserve Stockyards, dies at 82

Longtime Fort Worth businessman, philanthropist and preservationist Holt Hickman died Nov. 15, 2014, at the age of 82.

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UPDATE: Could American Airlines move its headquarters?

A key linchpin in the Fort Worth economy, American Airlines Group Inc., is considering sites for a new headquarters, possibly outside the city, the airline’s CEO said this morning.

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Rarely does Golf Digest make the news. Leave it to Dan Jenkins to change that.

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Crestwood area hoping to block planned office building

Residents of West Fort Worth’s Crestwood Association are trying to block the rezoning of a small apartment complex at White Settlement Road and North Bailey Avenue to make way for a planned office building, saying it would represent the start of commercial encroachment into their neighborhood.

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Basic Energy reports 2Q revenue rise
 
 
 
A. Lee Graham
Reporter
 
Basic Energy Services Inc. of Fort Worth has reported a 7 percent revenue surge, rising from $304.4 million in first-quarter 2013 to $325.7 million in the second quarter.
But revenues dropped 10 percent from the $361.5 million generated in the same quarter last year.
For second-quarter 2013, the company reported a net loss of $12.8 million, or 32 cents per share, compared to a net loss of $8.8 million, or 22 cents per share, reported in prior quarter. 
Adjusted earnings before interest, taxes, depreciation and amortization rose 20 percent to $62.1 million in the second quarter of 2013, or 19 perent of revenue, from $51.5 million, or 17 percent of revenue, in the prior quarter.
"Demand for our services improved modestly over the course of the quarter with the sequential increase in revenue essentially matching our recent guidance,” said president and CEO Ken Huseman in a news release.
The company’s oil- and liquids-driven markets are “extremely active," Huseman said, with rising demand but dry gas market activity remaining slow.
"That overall market improvement did not alleviate the intense price competition we've seen develop in most of our operating areas,” Huseman said.
Huseman said the company is limiting capital investment and has spent 7 percent less than the approved capital budget at the mid-point of the year.
“We will continue to hold the line on capital spending and expect to spend less than $165 million in 2013 unless we see a sustained increase in activity,” said Huseman, expecting
Company revenues declined 14 percent to $630.1 million for the first six months of 2013 compared to $732.4 million during the same period last year.
Fluid services revenue in second-quarter 2013 rose 2 percent to $85.6 million compared to $84.3 million in the prior quarter. The company attributed the revenue rise primarily to the full quarter revenue contribution from the Atlas and PetroWater acquisitions completed in late February 2013, as well as an increase in fluid services trucks and trucking hours.
Well servicing revenues rose 7 percent to $93.9 million during second-quarter 2013 compared to $87.7 million in the prior quarter, which the company primarily credited to seasonally higher utilization combined with a 2 percent increase in average rate per hour.
At June 30, 2013, the well servicing rig count totaled 425, the same as the end of the prior quarter. Excluding revenues associated with Taylor manufacturing operations, revenue per well servicing rig hour rose 2 percent to $408 in second-quarter 2013 from $399 in the previous quarter and $399 reported in second-quarter 2012.
Total capital expenditures for the six months ended June 30, 2013, including capital leases of $27.0 million, totaled about $104.6 million, comprising $31.8 million for expansion projects, $63.9 million for sustaining and replacement projects and $8.9 million for other projects.
BasicEnergy Services, which provides oil and gas well-site services, employs more than 5,700 workers in Texas, Louisiana, Oklahoma, New Mexico, Arkansas, Kansas and the Rocky Mountain and Appalachian regions. More information is available at www.basicenergyservices.com.
 
lgraham@bizpress.net
 

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