MIDLAND, Texas, March 17, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Basic Energy Services, Inc. (NYSE: BAS) today reported selected operating data for the month of February 2006. During the month, Basic added three newbuild rigs, bringing its well servicing rig count to 327 as of February 28, 2006. Rig hours for the month of February 2006 were 66,000, reflecting a rig utilization rate of 92.0%, an increase from 86.6% in the same month last year.
OPERATING DATA Month ended February 28, January 31, 2006 2005 2006 Number of well servicing rigs: (A) Weighted average for period 326 291 324 End of period 327 292 324 Rig hours (000s) 66.0 55.4 66.9 Rig utilization rate (B) 92.0% 86.6% 86.6% Number of fluid service trucks: Weighted average for period 543 435 479 End of period 548 440 538 (A) Includes all rigs owned during periods presented and excludes rigs held for sale. (B) Rig utilization rate based on the weighted average number of rigs owned during the periods being reported and a 55-hour work week per rig.
Basic Energy Services, with a fleet of more than 320 well servicing rigs, provides a range of well site services to oil and gas drilling and producing companies throughout the major oil and gas regions in Texas, Louisiana, Oklahoma, New Mexico and the Rocky Mountain States.
Contacts: Alan Krenek, Chief Financial Officer
Basic Energy Services, Inc.
Jack Lascar/Sheila Stuewe
DRG&E / 713-529-6600
SOURCE Basic Energy Services, Inc.