Basic Energy Services, Inc. released its utilization and operating information report for the company’s fleet of rigs and servicing trucks for June 2010.
Basic Energy Services, Inc. said that the company had 404 well servicing rigs in operation as of the end of the month. The fleet worked a total of 53,400 hours during the month, yielding a utilization rate of 55%.
Basic Energy Services, Inc. said that the utilization rate of 55% was up sequentially from the 53% reported in May 2010, and up year over year from the 39% utilization rate in June 2009.
“Activity levels in each of our business segments continued to trend modestly higher through June on the strength of oil driven activity within our regional markets. Our completion and remedial services segment, led by our pumping services, continued to show particular strength with essentially full utilization and pricing gains driving higher margins,” said Ken Huseman, the CEO of Basic Energy Services, Inc.
Basic Energy Services, Inc. said that drilling rig days for June 2010 came in at 176, yielding a utilization rate of 65%. This was flat from May 2010, and up from the 41% reported in June 2009.
Basic Energy Services, Inc. provides well servicing and drilling fluids to oil and gas well operators in the United States, with a concentration in the Mid Continent, Gulf Coast and Rocky Mountain areas.
For more information on the company, go to www.basicenergyservices.com