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Basic Energy Services issues March 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 March 2016.

Meanwhile, well-servicing rig hours for the month totaled 37,000, producing a rig utilization rate of 35 percent, compared to 35 percent and 55 percent in February 2016 and March 2015, respectively.

During the month, the firm’s fluid service truck count decreased by six to 981. Fluid service truck hours for the month totaled 172,800 compared to 168,100 and 202,900 in February 2016 and March 2015, respectively.

Drilling rig days for March totaled 31, producing a rig utilization of 8 percent, compared to 8 percent and 50 percent in February 2016 and March 2015, respectively.

“Activity in the month of March, excluding the impact of the Easter holiday, remained steady for our production-related well servicing and fluid services segments,” said president and CEO Roe Patterson, commenting in a news release.

But the company’s completion-related services, such as its stimulation business, continued to be affected by volatile oil prices that Patterson said caused customers to curtail their exploration and drilling projects.

Basic Energy Services, which provides oil and gas well-site services, employs more than 3,400 workers in Texas, Louisiana, Oklahoma, New Mexico, Arkansas, Kansas and the Rocky Mountain and Appalachian regions. More information is available at www.basicenergyservices.com.

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