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TCU rises 20 places on influential U.S. News & World Report ranking

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Basic Energy Services releases May report
A. Lee Graham

Reporter

Basic Energy Services Inc.’s well servicing rig count has remained unchanged at 421, according to the Fort Worth company’s newly released selected operating data for the month of May 2014.

Meanwhile, well-servicing rig hours for the month totaled 71,300, producing a rig utilization rate of 70 percent, unchanged compared to 70 percent and 68 percent in April 2014 and May 2013, respectively.

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

During the month, the firm’s fluid service truck count rose by three to 1,017. Fluid service truck hours for the month totaled 213,400 compared to 212,200 and 194,300 in April 2014 and May 2013, respectively.

Drilling rig days for May totaled 332, producing a rig utilization of 89 percent, compared to 81 percent and 78 percent in April 2014 and May 2013, respectively.

"May activity for well servicing and fluid services was very similar to April, as both months had 22 week days and a holiday,” said president and CEO Roe Patterson in a news release.

“Our contract drilling fleet experienced higher utilization for the month as we saw an increase in activity for our 1,000 horsepower rigs in the vertical Wolfberry play in the Permian Basin,” Patterson said.

Activity levels improved in the company’s completion and remedial services segment, said Patterson, especially for stimulation services.

Basic Energy Services, which provides oil and gas well-site services, employs more than 5,500 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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