Saturday, November 27, 2021
56.7 F
Fort Worth

Basic Energy Services says rig use is up

🕐 1 min read

By A. Lee Graham

Basic Energy Services Inc. of Fort Worth has reported higher operating activity in March, continuing momentum that saw the company produce a rig utilization rate of 74 percent for the month, up from 71 percent in February.

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

“Well servicing utilization increased in March due to seasonal factors but was impacted by one to two percentage points because of the decreased hours worked during the Easter holiday week,” said president and CEO Ken Huseman, commenting in a news release.

The company’s well-servicing rig count remained unchanged at 425, with rig hours for the month totaling 72,000, up from 66,400 in February.

March saw numbers of company fluid service trucks increase by five to reach 967. Just a month earlier, the company dropped two trucks. Fluid service truck hours for March totaled 192,300 compared to 177,600 and 195,900 in February 2013 and March 2012, respectively.

Drilling rig days for the month totaled 293, producing a rig utilization of 79 percent, compared to 79 percent and 91 percent in February 2013 and March 2012, respectively.

The company expects its first-quarter revenue to be about 1 percent higher sequentially, just under its previous guidance of 2 percent to 3 percent, Huseman said.

“Although the U.S. land drilling rig count has been fairly static since the beginning of the year, we are encouraged by the recent improvement in the rig count,” Huseman said.

Basic Energy Services, which provides oil and gas well-site services, employs more than 5,600 workers in Texas, Louisiana, Oklahoma, New Mexico, Arkansas, Kansas and the Rocky Mountain and Appalachian regions. More information is available at www.basicenergyservices.com.

 

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.

Related Articles

Our Digital Sponsors

Latest Articles

Fort Worth Business Press Logo
This advertisement will close in
00
Months
00
Days
00
Hours
00
Minutes
00
Seconds
seconds..
Click here to continue to Fort Worth Business Press

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

This field is for validation purposes and should be left unchanged.

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate