Tag: Basic Energy

Basic Energy reports lower rig utilization rates, Q1 revenue will be down 17%

Basic Energy reports lower rig utilization rates, Q1 revenue will be down 17%

Basic Energy CEO says oil prices under $30 WTI have caused many producers to cut back on projects Basic Energy Services, Inc.┬ásays rig utilization rates┬áhave plummeted over the past year and the Forth Worth, Texas-based company continues to stack equipment due to soft customer demand caused by low oil prices. Basic’s well servicing rig count […]