MIDLAND, Texas, July 13 /PRNewswire-FirstCall/ -- Basic Energy Services, Inc. (NYSE: BAS) (Basic) today reported selected operating data for the month of June 2006. During the month, Basic added two newbuild rigs and retired two rigs, resulting in a well servicing rig count of 348 as of June 30, 2006. Rig hours for the month of June 2006 were 78,600, reflecting a rig utilization rate of 93.4%, an increase from 91.6% in the same month last year. The increase in the sequential rig utilization rate in June compared to the prior month was mainly due to no holidays in June. The Company also added a net of twelve new fluid service trucks, resulting in a total of 592 fluid service trucks as of June 30, 2006.
OPERATING DATA Month ended June 30, May 31, 2006 2005 2006 Number of weekdays in period (1) 22 22 23 Number of well servicing rigs: (2) Weighted average for period 348 306 339 End of period 348 308 348 Rig hours (000s) 78.6 67.8 76.1 Rig utilization rate (3) 93.4% 91.6% 88.7% Number of fluid service trucks: Weighted average for period 586 451 554 End of period 592 453 580 (1) Includes Memorial Day holiday in May 2006. (2) Includes all rigs owned during periods presented and excludes rigs held for sale. (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 340 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.