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Basic Energy Services Reports Selected Operating Data for November 2008

MIDLAND, Texas, Dec. 8 /PRNewswire-FirstCall/ -- Basic Energy Services, Inc. (NYSE: BAS) ("Basic") today reported selected operating data for the month of November 2008. During the month, Basic added two newbuild rigs and retired two rigs leaving its well servicing rig count unchanged at 414 as of November 30, 2008. Rig hours for the month of November 2008 were 53,600 producing a rig utilization rate of 59%, a decrease from 72% and 71% in October 2008 and November 2007, respectively.

Drilling rig days for the month of November 2008 were 225 producing a rig utilization of 83%, a decrease from 92% recorded in October 2008 and an increase from 82% in November 2007.

Basic's fluid services truck fleet increases by a net of 17 trucks bringing its total to 811 trucks as of November 30, 2008.

Ken Huseman, Basic's President and Chief Executive Officer, stated, "Demand in our well servicing and drilling segments has softened in the wake of the continued decline in commodity prices but our fluid services and completion and remedial segments continue relatively strong as we complete previously drilled wells. We expect the impact of lower commodity pricing to exacerbate the usual season slowdown through the end of this year. In addition, continued uncertainty in the financial markets will likely further limit our customers' plans for 2009. The combination of reduced cash flow and restricted access to the capital markets lead us to expect activity levels well below prior year levels through at least the first half of 2009 as customers limit spending to essential maintenance and to only the most lucrative capital projects. We have drastically curtailed our own capital spending and implemented more aggressive cost reductions to preserve our liquidity, which we believe remains more than adequate to weather a protracted downturn in the industry."

                                     OPERATING DATA

                                                       Month ended
                                               November 30,       October 31,
                                           2008            2007       2008

        Number of weekdays in period         20              22         23

        Number of well servicing rigs:(1)
         Weighted average for period        412             385        414
         End of period                      414             385        414
         Rig hours (000s)                  53.6            66.1       75.9
         Rig utilization rate(2)             59%             71%        72%

        Number of drilling rigs(1)
         Weighted average for period          9              10          9
         End of period                        9              10          9
         Drilling rig days                  225             245        258
         Drilling utilization                83%             82%        92%

        Number of fluid service trucks:
         Weighted average for period        803             657        792
         End of period                      811             647        794

(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 5,200 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

CONTACT: Alan Krenek, Chief Financial Officer Basic Energy Services, Inc.
Jack Lascar/Sheila Stuewe
DRG&E / 1-713-529-6600

SOURCE Basic Energy Services, Inc.
Web Site:

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