Join The Discussion

 

Obama calls for offshore drilling in Southeast

WASHINGTON — The Obama administration on Tuesday outlined a politically fraught plan for allowing oil and gas drilling offshore along parts of the Atlantic coast while imposing new restrictions on environmentally fragile waters off northern Alaska.

read more >

Alliance's Hillwood Commons lands first tenant

A large title insurance, property valuation and settlement services company is the first tenant at Hillwood Commons I, an office complex at Alliance Town Center.

read more >

Energy Transfer Partners, Regency Energy announce $18B merger

Energy Transfer Partners LP of Dallas and Regency Energy Partners LP have entered into a definitive merger agreement.

read more >

Fort Worth's mayor looking for new chief of staff

Jason Lamers is leaving the city after 14 years to join Burlington Northern Santa Fe.

read more >

Podcasting superstar from 'Serial' coming to Fort Worth

If you hear yourself hearing a certain haunting theme in early August as you pass the Omni Fort Worth Hotel, don’t be alarmed.

read more >

 

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

 

< back

Email   email
hide
Catch
How 'bout them Cowboys?