Service & Supply | Quarterly / Earnings Reports | Oilfield Services | Third Quarter (3Q) Update | Capital Markets | Capital Expenditure | Private Equity Activity
Basic Energy Adds 62,000 HP in 3Q 2014
Print
|
Basic Energy Services, Inc. has announced its financial and operating results for the third quarter and nine months ended September 30, 2014.
Third Quarter HighlightsThird quarter 2014 revenue increased ten percent to $394.0 million from $359.7 million in the second quarter of 2014. Third quarter 2014 revenue increased 23% from the adjusted revenue of $319.9 million generated in the third quarter of 2013, driven by a 52% increase in revenues from the completion and remedial services segment. All metrics for 2013 and for the first quarter of 2014 were adjusted for the divestiture of Basic's barge rig operations in March 2014 for comparability purposes.
For the third quarter of 2014, Basic reported net income of $9.9 million, or $0.24 per basic and diluted share, compared to a net income…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations