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Basic Energy Services releases August report

🕐 1 min read

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 August 2014.

Meanwhile, well-servicing rig hours for the month totaled 72,400, producing a rig utilization rate of 74 percent, compared to 69 percent and 76 percent in July 2014 and August 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 increased by five to 1,024. Fluid service truck hours for the month totaled 215,100 compared to 214,900 and 200,300 in July 2014 and August 2013, respectively.

Drilling rig days for August totaled 310, producing a rig utilization of 83 percent, compared to 89 percent and 75 percent in July 2014 and August 2013, respectively.

“Overall activity improved during August mainly due to the absence of holiday impact compared to July, as well as improving completions demand, which aided our completions and remedial services segment,” said president and CEO Roe Patterson in a news release.

The month saw Basic Energy acquire a saltwater disposal facility in the Permian Basin, bringing its total number of such facilities to 84.

“With the increased demand for our stimulation services, we expect net pricing in the third quarter to be 3 percent to 5 percent higher sequentially,” Patterson said.

Basic Energy Services, which provides oil and gas well-site services, employs more than 5,700 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

 

 

Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

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