Basic Energy Posts Operating Data for May 2013; Well Servicing Rig Count Unchanged

By Staff,

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Basic Energy Services, Inc. ( BAS ) reported selected operating data for the month of May 2013.

Well servicing rig count remained unchanged at 425. Well servicing rig hours for the month were 75,000 producing a rig utilization rate of 70%, compared to 72% in both April 2013 and May 2012. During the month, Basic's fluid service truck count remained unchanged at 974. Fluid service truck hours for the month were 194,300 compared to 188,800 and 189,100 in April 2013 and May 2012, respectively.

Ken Huseman, CEO, said: "Demand for our services remained level through May with storm-related interruptions in activity in the Mid-Continent markets and the prolonged Memorial Day holiday reducing utilization compared to April."

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Commodities
Referenced Stocks: BAS

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