Tag: Well Servicing
Calgary-based Western Energy Services acquiring Savanna Energy
Western is highly experienced in operating a large scale contract drilling and well servicing company Western Energy Services Corp. is acquiring fellow Alberta services firm Savanna Energy Services Corp.on the basis of 0.85 of a common share of Western for each outstanding Savanna share, the companies announced Wednesday. “This transaction, which has received the unanimous […]
American oil and natural gas drilling down by half in Q4 2015 – API
2015 total well completions decreased 35% compared to 2014 Estimated total U.S. oil and natural gas well completions fell by 51 per cent in the fourth quarter of 2015 compared to year-ago levels, according to API’s 2015 Quarterly Well Completion Report, Fourth Quarter. For 2015, total well completions decreased 35 per cent overall compared to […]
Basic Energy Services reports decline in drilling, servicing rigs compared to 2014
October saw an increase in fluid service hours, as utilization remained strong in Permian Basin Basic Energy Services, Inc. today reported selected operating data for the month of Oct. 2015. Basic’s well servicing rig count remained unchanged at 421. Well servicing rig hours for the month were 44,400 producing a rig utilization rate of 44%, […]
Basic Energy Services: Unchanged rig count, but utilization rate way down
Basic Energy expect Q3 2015 revenues to be in line with previous guidance of 4 – 5% lower Texas-based Basic Energy Services says low oil prices have forced the company to keep prices down in order to maintain market share and keep equipment working. In a report on its operations for Sept,, Basic Energy said the […]
Basic Energy Services revenue drops 35% in 2015 Q1
Basic Energy Services CEO says it’s too early to tell if American oil and gas industry has reached the floor of downturn Basic Energy Services, Inc. (NYSE: BAS) says revenue declined by more than a third for the quarter ended March 31 across all operating divisions. Basic Energy Services provides well site services and employs more than […]
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