Drilling rig days for the month of
Basic's fluid services truck fleet count was unchanged at 792 as of
"We believe that the utilization levels we produced in November will continue in December, adjusted for any adverse weather and the holiday effect in the last week of the month. We reiterate our expectation that demand for our services will continue to improve throughout 2010, particularly for oil-related activity in our market areas."
Month ended ----------- November 30, October 31, 2009 2008 2009 ---- ---- ---- Number of weekdays in period 21 20 22 Number of well servicing rigs: (1) Weighted average for period 414 412 414 End of period 413 414 414 Rig hours (000s) 39.2 53.6 41.2 Rig utilization rate(2) 41% 59% 41% Number of drilling rigs:(1) Weighted average for period 9 9 9 End of period 9 9 9 Drilling rig days 130 225 118 Drilling utilization 48% 83% 42% Number of fluid service trucks: Weighted average for period 792 803 799 End of period 792 811 792
(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.
Additional information on
Safe Harbor Statement:
This release includes forward-looking statements and projections, made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Basic has made every reasonable effort to ensure that the information and assumptions on which these statements and projections are based are current, reasonable, and complete. However, a variety of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this release, including (i) changes in demand for Basic's services and any related material impact on our pricing and utilizations rates, (ii) Basic's ability to execute, manage and integrate acquisitions successfully and (iii) changes in our expenses, including labor or fuel costs and financing costs. Additional important risk factors that could cause actual results to differ materially from expectations are disclosed in Item 1A of Basic's Form 10-K for the year ended
DRG&E / 713-529-6600
Alan Krenek, Chief Financial Officer, Basic Energy Services, Inc., +1-432-620-5510; or Jack Lascar/Sheila Stuewe, both of DRG&E, +1-713-529-6600