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Basic Energy Services Reports Selected Operating Data for January 2009

MIDLAND, Texas, Feb. 12 /PRNewswire-FirstCall/ -- Basic Energy Services, Inc. (NYSE: BAS) ("Basic") today reported selected operating data for the month of January 2009. During the month, Basic added one newbuild rig and retired one rig leaving its well servicing rig count at 414 as of January 31, 2009. Rig hours for the month of January 2009 were 49,300 producing a rig utilization rate of 49%, a decrease from 51% and 71% in December 2008 and January 2008, respectively.

Drilling rig days for the month of January 2009 were 123 producing a rig utilization of 44%, a decrease from 66% and 64% in December 2008 and January 2008, respectively.

Basic's fluid services truck fleet decreased by a net of four trucks bringing its total to 815 trucks as of January 31, 2009.

Ken Huseman, Basic's President and Chief Executive Officer, stated, "January activity continued the downward trend which began in November and was further impacted by several days of icy weather in the last week of the month, which reduced utilization in all of our business lines. Given current commodity prices and uncertainty in the financial markets, we do not expect our customers' spending on oilfield services to support an increase in utilization rates in any of our segments in the near term.

"Lower demand has resulted in pricing pressure as we have positioned ourselves to protect our market share in all segments, especially in the more production maintenance-intensive areas in the Permian Basin and Mid-Continent regions. We expect that the pricing in our other markets will feel downward pressure as the drilling activity continues to slide and the backlog of completion-related activity is worked off.

"We continue to monitor local demand throughout our segments to right-size our work force and active fleet in each of our service points while controlling operating expenses on a daily basis during these times of lower business activity. Our blend of new and older assets allows us to stack the most inefficient equipment while spending minimal capital and expense to operate our newer assets and we expect to continue generating significant cash from operations. We are well capitalized to weather a protracted slow period and will preserve our liquidity until we see a bit more clarity in the demand for our services."

                                OPERATING DATA
                                                       Month ended
                                                January 31,     December 31,
                                              2009      2008        2008

    Number of weekdays in period               22        23          23

    Number of well servicing rigs: (1)
      Weighted average for period             413       385         413
      End of period                           414       393         414
      Rig hours (000s)                       49.3      69.2        52.8
      Rig utilization rate(2)                  49%       71%         51%

    Number of drilling rigs: (1)
      Weighted average for period               9         9           9
      End of period                             9         9           9
      Drilling rig days                       123       179         183
      Drilling utilization                     44%       64%         66%

    Number of fluid service trucks:
      Weighted average for period             817       643         815
      End of period                           815       640         819

    (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 5,000 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

Contacts: Alan Krenek, Chief Financial Officer
Basic Energy Services, Inc.

Jack Lascar/Sheila Stuewe
DRG&E / 713-529-6600

SOURCE Basic Energy Services, Inc.

Web Site:

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