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Basic Energy Services Talks 4Q; Predicts 21-26% Decline in 1Q
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Basic Energy Services, Inc. announced its financial and operating results for the fourth quarter and twelve months ended December 31, 2014.
Roe Patterson, Basic's President and Chief Executive Officer, stated, "We are pleased with our overall 2014 results as we experienced robust activity during the great majority of the year. Despite the more challenging environment that started to emerge in December, fourth quarter revenue came in about two percent higher sequentially, led by the performance of our completion and remedial services segment as stimulation and coil tubing activity remained steady through year end. Overall, fourth quarter margins were essentially flat sequentially despite the impact of weather interruptions in both the Permian Basin and the Mid-Continent and the pricing…
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