Drilling rig days for the month of
Basic's fluid services truck fleet remained unchanged at 805 trucks as of
"While we see continued, steady improvement in oil-related activity, we anticipate tough market conditions to prevail until gas-driven activity increases to help more fully absorb the excess service capacity in each of our markets and segments."
OPERATING DATA Month ended ----------- September 30, August 31, 2009 2008 2009 ---- ---- ---- Number of weekdays in period 22 22 21 Number of well servicing rigs: (1) Weighted average for period 414 413 414 End of period 414 413 414 Rig hours (000s) 41.3 74.9 41.4 Rig utilization rate( 2) 41% 75% 43% Number of drilling rigs: (1) Weighted average for period 9 9 9 End of period 9 9 9 Drilling rig days 119 268 146 Drilling utilization 44% 99% 52% Number of fluid service trucks: Weighted average for period 805 697 805 End of period 805 790 805 (1) Includes all rigs owned during periods presented and excludes rigs held for sale. (2) Rig utilization rate based on the weighted average number of rigs owned during the periods being reported, a 55-hour work week per rig and the number of weekdays in the periods being presented.
Additional information on
Safe Harbor Statement:
This release includes forward-looking statements and projections, made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Basic has made every reasonable effort to ensure that the information and assumptions on which these statements and projections are based are current, reasonable, and complete. However, a variety of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this release, including (i) changes in demand for Basic's services and any related material impact on our pricing and utilizations rates, (ii) Basic's ability to execute, manage and integrate acquisitions successfully and (iii) changes in our expenses, including labor or fuel costs and financing costs. Additional important risk factors that could cause actual results to differ materially from expectations are disclosed in Item 1A of Basic's Form 10-K for the year ended
Alan Krenek, Chief Financial Officer Basic Energy Services, Inc.432-620-5510 Jack Lascar/ Sheila StueweDRG&E / 713-529-6600
Alan Krenek, Chief Financial Officer of Basic Energy Services, Inc., +1-432-620-5510; or Jack Lascar, or Sheila Stuewe, both of DRG&E, +1-713-529-6600, for Basic Energy Services, Inc.