Press Release

View printer-friendly version

<< Back

Basic Energy Services Reports Selected Operating Data for August 2006

MIDLAND, Texas, Sept. 15 /PRNewswire-FirstCall/ -- Basic Energy Services, Inc. (NYSE: BAS) ("Basic") today reported selected operating data for the month of August 2006.

Basic added four rigs to its fleet with the acquisition of Chaparral Services, Inc., increasing its well servicing rig count to 356 as of August 31, 2006. Rig hours for the month of August 2006 were 83,900 producing a rig utilization rate of 93.7%, an increase from 84.0% and 89.1% in the same month in 2005 and prior month in 2006, respectively. The year-over-year utilization improvement is the result of stronger market conditions, while the increase from July 2006 reflects the absence of holidays in August.

    Basic also increased its fluid service truck fleet by the 28 trucks
acquired from Chaparral Services, Inc. to a total of 628 trucks as of
August 31, 2006.

                                OPERATING DATA

                                                    Month ended
                                               August 31,         July 31,
                                            2006        2005        2006

    Number of weekdays in period             23          23          21

    Number of well servicing rigs: (1)
      Weighted average for period           354         311         347
      End of period (2)                     356         312         352

      Rig hours (000s)                     83.9        66.1        71.4
      Rig utilization rate (3)             93.7%       84.0%       89.1%

    Number of fluid service trucks:
      Weighted average for period           614         467         596
      End of period (2)                     628         472         600

    (1)  Includes all rigs owned during periods presented and excludes rigs
         held for sale.
    (2)  Includes four rigs and 28 fluid service trucks acquired in the
         Chaparral Services, Inc. acquisition on August 15, 2006.
    (3)  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 approximately 4,000 employees in more than 100 service points throughout the major oil and gas producing regions in Texas, Louisiana, Oklahoma, New Mexico and the Rocky Mountain States.


    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.
09/15/2006
Basic Energy Services © 2019