Basic Energy Says September Activity Declines in Each Operating Segment; Stocks Off 1%


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

The company's well servicing rig count remained unchanged at 431. Well servicing rig hours for the month were 67,500 producing a rig utilization rate of 71%, compared to 75% and 74% in August 2012 and September 2011, respectively.

Ken Huseman, CEO, said: "Activity declined in each of our operating segments compared to August due to fewer workdays and the Labor Day holiday."

BAS edged off by 1% to $11.20 in pre-market trade, moving closer to year low $8.52.

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This article appears in: Investing , Commodities

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