Drilling rig days for the month of
Basic's fluid services truck fleet decreased to 792 trucks as of
"We continue to expect gradual improvement in demand through the end of the year with the usual seasonal interruptions for weather and holidays. Announced plans and private discussions with our customers support our projections for a substantially higher level of oil-related activity over the course of 2010 while gas-directed activity remains more of a wait and see proposition."
October 31, September 30, 2009 2008 2009 ---- ---- ---- Number of weekdays in period 22 23 22 Number of well servicing rigs: (1) Weighted average for period 414 414 414 End of period 414 414 414 Rig hours (000s) 41.2 75.9 41.3 Rig utilization rate(2) 41% 72% 41% Number of drilling rigs: (1) Weighted average for period 9 9 9 End of period 9 9 9 Drilling rig days 118 258 119 Drilling utilization 42% 92% 44% Number of fluid service trucks: Weighted average for period 799 792 805 End of period 792 794 805
(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 of Basic Energy Services, Inc., +1-432-620-5510; or Jack Lascar or Sheila Stuewe, both of DRG&E, +1-713-529-6600, both for Basic Energy Services, Inc.