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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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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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Tiger Woods takes a swing at Fort Worth's Dan Jenkins - in print anyway

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Great Women of Texas honored

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Grocers, retailers flocking to Southlake

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Basic Energy Services expects higher rig use in spring

A. Lee Graham

Reporter

Basic Energy Services Inc. of Fort Worth has reported fewer well-servicing rig hours, dropping from 74,500 in January to 68,100 in February.

Meanwhile, the oil and gas well-services company higher rig utilization, with the rate rising from 69 percent in January to 73 percent in February. The 73 percent rate rose from 71 percent in February 2013, according to the company’s newly released report on February 2014 activity.

Rig utilization rates determine what percentage of a company’s rigs is in use.

"As we approach springtime, we expect to benefit from longer daylight hours and better weather conditions, which should allow us to improve our utilization rates,” said president and CEO Roe Patterson, commenting in a news release.

“Prices across our service lines remains stable, and we continue to see selected opportunities to increase rates in the busier oil market,” Patterson said.

Also in the new report, the company reported its well-servicing rig count remained unchanged at 425, while its fluid service truck count increased by five to 1,008. Fluid service truck hours for the month totaled 189,000 compared to 207,400 and 177,600 in January 2014 and February 2013, respectively.

Drilling rig days for February 2014 totaled 262.

Basic Energy Services, which provides oil and gas well-site services, employs more than 5,400 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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