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Basic Energy Services releases October 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 October 2014.

Meanwhile, well-servicing rig hours for the month totaled 77,800, producing a rig utilization rate of 73 percent, compared to 71 percent in both September 2014 and October 2013.

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

During the month, the firm’s fluid service truck count decreased by five to 1,040. Fluid service truck hours for the month totaled 233,300 compared to 215,800 and 201,900 in September 2014 and October 2013, respectively.

Drilling rig days for October totaled 326, producing a rig utilization of 88 percent, compared to 91 percent and 69 percent in September 2014 and October 2013, respectively.

“October activity was strong across all of our business segments rebounding from the Labor Day and weather impacts during September,” said president and CEO Roe Patterson in a news release.

“We saw a significant increase in truck utilization in October, particularly in our Permian Basin and Rocky Mountain operating areas, as we continue to benefit from our longstanding strategy of centering our fluid service assets around our advanced disposal well network,” said Patterson, reporting utilization levels in the compnay’s well servicing and contract drilling segments as steady and remaining in line with its expectations.

Basic Energy Services, which provides oil and gas well-site services, employs more than 5,800 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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