Basic Energy Services Reports Selected Operating Data For November 2013

FORT WORTH, Texas, Dec. 11, 2013 /PRNewswire/ -- Basic Energy Services, Inc. (NYSE: BAS) ("Basic") today reported selected operating data for the month of November 2013.  Basic's well servicing rig count remained unchanged at 425. Well servicing rig hours for the month were 60,500 producing a rig utilization rate of 62%, compared to 71% and 62% in October 2013 and November 2012, respectively.

During the month, Basic's fluid service truck count increased by 6 to 989. Fluid service truck hours for the month were 185,100 compared to 201,900 and 182,400 in October 2013 and November 2012, respectively.

Drilling rig days for the month were 259 producing a rig utilization of 72%, compared to 69% and 76% in October 2013 and November 2012, respectively.

Roe Patterson, Basic's President and Chief Executive Officer, stated, "Our activity in November was impacted by both the extended Thanksgiving holiday as well as severe winter weather in our Permian Basin and Mid-Continent operations the week preceding the Thanksgiving holiday period. In those weather-impacted areas, our operations lost about two and a half days of work in our well servicing, fluid services and pumping services business lines. Overall, net of the weather impact, November activity was slightly above our expectations.

"We have experienced additional adverse weather throughout our footprint during the first part of December, which has caused delays in deploying equipment and people. As a result of this, we are now expecting fourth quarter revenues to be 7% to 8% lower sequentially, a change from our previous guidance of down 6% to 7%."

Basic Energy Services provides well site services essential to maintaining production from the oil and gas wells within its operating area.  The company employs more than 5,400 employees in more than 100 service points throughout the major oil and gas producing regions in Texas, Louisiana, Oklahoma, New Mexico, Arkansas, Kansas and the Rocky Mountain States.

Additional information on Basic Energy Services is available on the Company's website at http://www.basicenergyservices.com.

Safe Harbor Statement

This release includes forward-looking statements and projections, made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Basic has made every reasonable effort to ensure that the information and assumptions on which these statements and projections are based are current, reasonable, and complete.  However, a variety of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this release, including (i) changes in demand for our services and any related material impact on our pricing and utilizations rates, (ii) Basic's ability to execute, manage and integrate acquisitions successfully and (iii) changes in our expenses, including labor or fuel costs and financing costs.  Additional important risk factors that could cause actual results to differ materially from expectations are disclosed in Item 1A of Basic's Form 10-K for the year ended December 31, 2012 and subsequent Form 10-Qs filed with the SEC.  While Basic makes these statements and projections in good faith, neither Basic nor its management can guarantee that anticipated future results will be achieved.  Basic assumes no obligation to publicly update or revise any forward-looking statements made herein or any other forward-looking statements made by Basic, whether as a result of new information, future events, or otherwise.

SOURCE Basic Energy Services, Inc.