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Basic Energy Services issues April report

🕐 1 min read

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 April 2015.

Meanwhile, well-servicing rig hours for the month totaled 50,700, producing a rig utilization rate of 50 percent, compared to 55 percent and 70 percent in March 2015 and April 2014, respectively.

During the month, the firm’s fluid service truck count decreased by 15 to 1,008. Fluid service truck hours for the month totaled 190,600 compared to 202,900 and 212,200 in March 2015 and April 2014, respectively.

Drilling rig days for April totaled 124, producing a rig utilization of 34 percent, compared to 50 percent and 81 percent in March 2015 and April 2014, respectively.

“Excluding the impact of the weather and the Easter holiday, we experienced a modest reduction in customer activity from our March levels as the U.S. drilling rig count continued to decline, albeit at a decelerating pace,” said president and CEO Roe Patterson in a news release.

Heavy rainfall through most of the company’s operating areas lessened its well-servicing utilization by about 200 basis points, Patterson said. A basis point is a unit equal to one hundredth of a percentage point. The company’s stimulation-services operations were “moderately” impacted by heavy rains in its West Texas and Oklahoma markets and by several delays in hydraulic fracturing jobs due to customer well issues beyond Basic Energy’s control, Patterson said.

Basic Energy Services, which provides oil and gas well-site services, employs more than 4,600 workers in Texas, Louisiana, Oklahoma, New Mexico, Arkansas, Kansas and the Rocky Mountain and Appalachian regions. More information is available at www.basicenergyservices.com.

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