EX-99.1 2 h32108exv99w1.htm PRESS RELEASE DATED JANUARY 17, 2006 exv99w1
 

(BASIC ENERGY SERVICES LOGO)
NEWS RELEASE
     
Contacts:
  Alan Krenek, Chief Financial Officer
 
  Basic Energy Services, Inc.
 
  432-620-5516


     
FOR IMMEDIATE RELEASE
  Jack Lascar/Sheila Stuewe
 
  DRG&E / 713-529-6600
BASIC ENERGY SERVICES REPORTS SELECTED
OPERATING DATA FOR THE FOURTH QUARTER OF 2005
     MIDLAND, Texas – January 17, 2006 – Basic Energy Services, Inc. (NYSE: BAS) today reported selected operating data for the fourth quarter of 2005. The Company added 11 new build rigs during the quarter, which brings its well servicing rig count to 323 as of December 31, 2005. Rig hours for the fourth quarter of 2005 were 195,000, reflecting a rig utilization rate of 86.3%, up from 76.8% for the same period in 2004. The sequential decrease in the rig utilization rate from the third quarter of 2005 reflects the seasonal slowdown associated with fewer daylight hours and the impact of the holiday season during the fourth quarter of 2005.
OPERATING DATA
                         
    Quarter ended  
    December 31,     September 30,  
    2005     2004     2005  
 
                        
Number of well servicing rigs: 1
                        
Weighted average for period
     316       284       311  
End of period
     323       288       312  
 
                        
Rig hours (000s)
     195.0       155.9       198.0  
Rig utilization rate 2
     86.3 %     76.8 %     89.0 %
 
                        
Number of fluid service trucks:
                        
Weighted average for period
     472       411       465  
End of period
     477       413       462  
 
1   Includes all rigs owned during periods presented and excludes rigs held for sale.
 
2   Rig utilization rate based on the weighted average number of rigs owned during the periods being reported and a 55-hour work week per rig.
The Company currently intends to provide monthly updates of its operating data shortly after the end of each month.
Basic Energy Services, with a fleet of more than 300 well servicing rigs, provides a range of well site services to oil and gas drilling and producing companies throughout the major oil and gas regions in Texas, Louisiana, Oklahoma, New Mexico and the Rocky Mountain States.
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