Basic Energy Reports November Operating Data; Shares Slide 7%


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Basic Energy Services, Inc. ( BAS ) reported selected operating data for the month of November 2012.

Basic's well servicing rig count remained unchanged at 431. Well servicing rig hours for the month were 64,400 producing a rig utilization rate of 62%, compared to 72% in both October 2012 and November 2011.

During the month, Basic's fluid service truck count increased by 6 to 957 trucks. Fluid service truck hours for the month were 182,400 compared to 194,700 and 188,200 in October 2012 and November 2011, respectively.

Drilling rig days for the month were 272 producing a rig utilization of 76%, compared to 85% and 98% in October 2012 and November 2011, respectively.

BAS shares are down 6.8% at $10.39.

Shares have a day range of $10.26 - $10.66, and a year range of $8.52 - $22.50.

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

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