Press Release

View printer-friendly version

<< Back

Basic Energy Services Reports Selected Operating Data for April 2007

MIDLAND, Texas, May 10 /PRNewswire-FirstCall/ -- Basic Energy Services, Inc. (NYSE: BAS) ("Basic") today reported selected operating data for the month of April 2007.

Please note that the format of the monthly operating data report has changed effective with the addition of the six medium-depth drilling rigs from the Sledge Drilling acquisition on April 2, 2007. The well servicing information below only includes operating data from well servicing and barge-mounted workover rigs and a separate section has been added for the drilling rigs.

During the month, Basic added one newbuild rig and one swab rig, increasing its well servicing rig count to 367 as of April 30, 2007. Rig hours for the month of April 2007 were 70,500 producing a rig utilization rate of 83.1%, a decrease from 84.4% in the prior month and a decrease from 90.8% during the same month in 2006.

Rig hours in April decreased compared to the prior month due to one less weekday in the month and a holiday. However, the utilization rate in April is consistent with March when considering the holiday effect.

The utilization rate of 83.1% in April of 2007 is less than the extremely strong utilization recorded in the same month in 2006 reflecting weaker market conditions as a result of moderating oil and gas prices.

As mentioned above, Basic added six drilling rigs from the Sledge Drilling acquisition in April, increasing its drilling fleet to ten as of April 30, 2007.

Basic's fluid service truck fleet decreased by net of one truck, bringing its total to 656 trucks as of April 30, 2007.



                                OPERATING DATA

                                                      Month ended
                                               April 30,         March 31,
                                           2007        2006        2007

    Number of weekdays in period             21          20          22

    Number of well servicing rigs: (1)
      Weighted average for period           367         333         365
      End of period                         367         335         365

      Rig hours (000s)                     70.5        66.5        74.5
      Rig utilization rate (2)             83.1%       90.8%       84.4%

    Number of drilling rigs: (1)
      Weighted average for period            10           2           4
      End of period                          10           2           4

    Number of fluid service trucks:
      Weighted average for period           656         549         656
      End of period                         655         544         656

    (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.


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 4,400 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 States.

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

Contacts: Alan Krenek, Chief Financial Officer
Basic Energy Services, Inc.
432-620-5510

Jack Lascar/Sheila Stuewe
DRG&E / 713-529-6600 SOURCE Basic Energy Services, Inc.
Web site: http://basicenergyservices.com
(BAS)

Basic Energy Services © 2019