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Wednesday, January 20, 2021

Basic Energy Services issues October report

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 October.

Meanwhile, well-servicing rig hours for the month totaled 44,400, producing a rig utilization rate of 44 percent, compared to 46 percent and 73 percent in September 2015 and October 2014, respectively.

During the month, the firm’s fluid service truck count dropped by nine to 1,006. Fluid service truck hours for the month totaled 197,200 compared to 183,400 and 233,300 in September 2015 and October 2014, respectively.

Drilling rig days for October totaled 50, producing a rig utilization of 13 percent, compared to 27 percent and 88 percent in September 2015 and October 2014, respectively.

“October saw an increase in our fluid service hours, despite a decrease in our total number of trucks as utilization remained strong in our Permian Basin operations,” said president and CEO Roe Patterson, commenting in a news release.

But the firm’s well servicing utilization dropped in October due to wet weather in Texas and Oklahoma during the last part of the month, Patterson said.

“Pricing in all of our markets and lines of business remain competitive, and we are working to maintain current activity levels,” Patterson said.

Basic Energy Services, which provides oil and gas well-site services, employs more than 4,100 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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