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Basic Energy Services' Rig Count Servicing Steadies at 421
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Basic Energy Services, Inc. reported selected operating data for the month of March 2016. Basic's well servicing rig count remained unchanged at 421. Well servicing rig hours for the month were 37,000 producing a rig utilization rate of 35%, compared to 35% and 55% in February 2016 and March 2015, respectively.
During the month, Basic's fluid service truck count decreased by six to 981. Fluid service truck hours for the month were 172,800, compared to 168,100 and 202,900 in February 2016 and March 2015, respectively.
Drilling rig days for the month were 31 producing a rig utilization of 8%, compared to 8% and 50% in February 2016 and March 2015, respectively.
Roe Patterson, Basic's President and Chief Executive Officer, commented, "Activity in the month of March, excluding the impact of…
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