MIDLAND, Texas, Aug. 10 /PRNewswire-FirstCall/ -- Basic Energy Services, Inc. (NYSE: BAS) (Basic) today reported selected operating data for the month of July 2006. During the month, Basic acquired six rigs in conjunction with the Hennessey Rental Tools, Inc. acquisition and retired two rigs, increasing its well servicing rig count to 352 as of July 31, 2006. The Company will take delivery of its next newbuild well servicing rigs in September 2006. Rig hours for the month of July 2006 were 71,400, reflecting a rig utilization rate of 89.1%, an increase from 84.5% in the same month last year. The decline in rig utilization from the prior month was mainly the result of the July 4th holiday. The Company also added a net of eight new fluid service trucks, resulting in a total of 600 fluid service trucks as of July 31, 2006.
OPERATING DATA Month ended July 31, June 30, 2006 2005 2006 Number of weekdays in period 21 21 22 Number of well servicing rigs: (1) Weighted average for period 347 309 348 End of period (2) 352 309 348 Rig hours (000s) 71.4 60.3 78.6 Rig utilization rate (3) 89.1% 84.5% 93.4% Number of fluid service trucks: Weighted average for period 596 457 586 End of period 600 461 592 (1) Includes all rigs owned during periods presented and excludes rigs held for sale. (2) Includes six rigs from the Hennessey Rental Tools, Inc. acquisition on July 31, 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, with a fleet of more than 350 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. 432-620-5510 Jack Lascar/Sheila Stuewe DRG&E / 713-529-6600 SOURCE Basic Energy Services, Inc. -0- 08/10/2006 /CONTACT: Alan Krenek, Chief Financial Officer of Basic Energy Services, Inc., +1-432-620-5510; or Jack Lascar or Sheila Stuewe, both of DRG&E, +1-713-529-6600, for Basic Energy Services, Inc./ CO: Basic Energy Services, Inc.; Hennessey Rental Tools, Inc. ST: Texas IN: OIL SU: AW-CT -- DATH032 -- 7733 08/10/2006 16:31 EDT http://www.prnewswire.com