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Basic Energy Services Reports Selected Operating Data for September 2011

MIDLAND, Texas, Oct. 10, 2011 /PRNewswire via COMTEX/ --

Basic Energy Services, Inc. (NYSE: BAS) ("Basic") today reported selected operating data for the month of September 2011. Basic's well servicing rig count remained unchanged at 417 as of September 30, 2011. Well servicing rig hours for the month of September 2011 were 74,300 producing a rig utilization rate of 74%, a slight decrease from 75% in August 2011 and an increase from 55% in September 2010.

Basic's fluid service truck count as of September 30, 2011 remained the same at 872. Fluid service truck hours for the month of September 2011 were 186,500, a decrease from 194,000 in August 2011 and an increase from 157,400 in September 2010.

Drilling rig days for the month of September 2011 were 266 producing a rig utilization of 89%, an increase from 83% in August 2011 and a decrease from 97% in September 2010.

Ken Huseman, Basic's President and Chief Executive Officer, stated, "We experienced strong activity levels across all business segments in September despite the effect of the Labor Day holiday. Pricing remains firm and continues to offset labor and other cost increases. All four of the acquisitions that we completed since July have been fully integrated and we are pleased with their contribution to our operating results.

"Despite recent commodity price volatility, discussions with our customers indicate continued demand across all segments, particularly in our Permian Basin market. We have firm commitments for two 2" coil units for delivery during the second quarter of 2012. Beyond that, we will monitor customer plans for 2012 before making additional significant commitments for fleet expansion."

OPERATING DATA





Month ended




September 30,


August 31,




2011

2010


2011









Number of weekdays in period

22

22


23








Number of well servicing rigs: (1,3)





Weighted average for period

417

407


417

End of period


417

406


417

Rig hours (000s)


74.3

54.1


78.8

Rig utilization rate (2)


74%

55%


75%








Number of fluid service trucks:(1)





Weighted average for period

872

787


871

End of period


872

785


872

Truck Hours (000s)


186.5

157.4


194.0








Number of drilling rigs: (1,3)





Weighted average for period

10

6


10

End of period


10

6


10

Drilling rig days


266

175


257

Drilling rig utilization


89%

97%


83%







(1) Includes all rigs and trucks owned during periods presented and excludes rigs and trucks 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.

(3) Basic transferred three of its contract drilling rigs to the well servicing fleet at the end of December 2010. The weighted average number of rigs, number of rigs at the end of period and the rig utilization rate for September 2010 has been recalculated as if these three rigs had been reclassified for September 2010.

Basic Energy Services provides well site services essential to maintaining production from the oil and gas wells within its operating area. The company employs more than 5,500 employees in more than 100 service points throughout the major oil and gas producing regions in Texas, Louisiana, Oklahoma, New Mexico, Arkansas, Kansas and the Rocky Mountain and Appalachian regions.

Additional information on Basic Energy Services is available on the Company's website at http://www.basicenergyservices.com.

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 our 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 December 31, 2010 and subsequent Form 10-Qs filed with the SEC. While Basic makes these statements and projections in good faith, neither Basic nor its management can guarantee that anticipated future results will be achieved. Basic assumes no obligation to publicly update or revise any forward-looking statements made herein or any other forward-looking statements made by Basic, whether as a result of new information, future events, or otherwise.

Contacts:

Alan Krenek, Chief Financial Officer


Basic Energy Services, Inc.


432-620-5510




Jack Lascar/Sheila Stuewe


DRG&L / 713-529-6600

SOURCE Basic Energy Services, Inc.

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