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Last $9.28 USD
Change Today +0.42 / 4.74%
Volume 2.8M
BAS On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 12:06 PM 04/28/15 All times are local (Market data is delayed by at least 15 minutes).

basic energy services inc (BAS) Snapshot

Open
$8.87
Previous Close
$8.86
Day High
$9.59
Day Low
$8.87
52 Week High
07/1/14 - $29.84
52 Week Low
03/16/15 - $5.00
Market Cap
394.8M
Average Volume 10 Days
4.0M
EPS TTM
$-0.31
Shares Outstanding
42.6M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for BASIC ENERGY SERVICES INC (BAS)

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basic energy services inc (BAS) Details

Basic Energy Services, Inc. provides well site services to oil and natural gas drilling and producing companies in the United States. Its Completion and Remedial Services segment offers pumping services, such as cementing, acidizing, fracturing, nitrogen, and pressure testing; rental and fishing tools; coiled tubing; snubbing services; thru-tubing; cased-hole wireline services; and underbalanced drilling in low pressure and fluid sensitive reservoirs. This segment operates 291 pumping units; and 66 air compressor packages, including 36 snubbing units, 16 coiled tubing units, and 10 wireline units. The company’s Fluid Services segment is involved in the transportation of fluids; the production of salt water; the sale and transportation of fresh and brine water; the rental of portable frac and test tanks; the recycling and treatment of wastewater; the operation of fresh water and brine source wells, and of non-hazardous wastewater disposal wells; and the preparation, construction, and maintenance of access roads, drilling locations, and production facilities. As of December 31, 2014, this segment owned and operated 1,047 fluid service trucks with an average fluid hauling capacity of up to 150 barrels apiece. Its Well Servicing segment provides services performed with a mobile well servicing rig and ancillary equipment, such as maintenance work, hoisting tools and equipment required by the operation, and plugging and abandonment services, as well as manufactures and sells workover rigs. As of December 31, 2014, this segment operated a fleet of 421 well servicing rigs. Its Contract Drilling segment employs drilling rigs and related equipment to penetrate the earth to a desired depth and initiate production. This segment owns and operates 12 land drilling rigs. The company was formerly known as Sierra Well Service, Inc. and changed its name to Basic Energy Services, Inc. in 2000. Basic Energy Services, Inc. was founded in 1992 and is headquartered in Fort Worth, Texas.

4,700 Employees
Last Reported Date: 04/24/15
Founded in 1992

basic energy services inc (BAS) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $700.0K
Chief Financial Officer, Senior Vice Presiden...
Total Annual Compensation: $415.0K
Senior Vice President of Region Operations
Total Annual Compensation: $415.0K
Vice President of Human Resources
Total Annual Compensation: $310.0K
Vice President of Pumping Services Division
Total Annual Compensation: $340.0K
Compensation as of Fiscal Year 2014.

basic energy services inc (BAS) Key Developments

Basic Energy Services, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter and Full Year of 2015

Basic Energy Services, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. First quarter 2015 revenue declined 35% to $261.7 million from $400.9 million in the fourth quarter of 2014 as all lines of services experienced reduced activity levels and pricing pressures. First quarter 2015 revenue decreased 21% from $331.3 million generated in the first quarter of 2014. Net loss was $32.6 million, or a loss of $0.81 per basic and diluted share. This compares to a net loss of $18.8 million, or a loss of $0.45 per basic and diluted share, reported in the fourth quarter of 2014. The fourth quarter of 2014 included a tax-effected, non-cash charge of $23.5 million ($34.7 million before tax), or $0.56 per basic and diluted share, for impairment of all the goodwill associated with the well servicing and fluid services segments. Excluding this special item, the company reported net income of $4.7 million, or $0.11 per basic and diluted share. In the first quarter of 2014, the company reported a net loss of $3.3 million, or a loss of $0.08 per basic and diluted share. Adjusted EBITDA decreased to $27.3 million from $85.6 million in the fourth quarter of 2014. In the first quarter of 2014, the company generated Adjusted EBITDA of $65.4 million. Total capital expenditures during the first quarter 2015, including capital leases of $8.3 million, were approximately $34.1 million, comprised of $12.0 million for expansion projects, $19.6 million for sustaining and replacement projects and $2.5 million for other projects. Operating loss was $33.769 million against $13.984 million a year ago. Loss before income taxes was $50.506 million against $2.496 million a year ago. EBITDA was $27.280 million against $66.055 million a year ago. The company generated $65.8 million of cash through operating activities. Total capital expenditures were $34 million The company currently anticipates its second quarter revenue to be down 10% to 15% sequentially, as declines in activity and continued pricing pressures will likely combine to reduce utilization. Depreciation and amortization expense expected to be in the range of $60 million to $61 million. The company expects the effective tax benefit rate for 2015 to be around 35% due to a forecasted net loss for the full year.

Basic Energy Services, Inc. Announces Amendment to Its Existing $300 Million Revolving Credit Facility

On April 21, 2015, Basic Energy Services, Inc. entered into an amendment to its existing $300,000,000 revolving credit facility (as so amended, the Modified Facility) with a syndicate of lenders and Bank of America, N.A., as administrative agent for the lenders, that, among other things: reduces the maximum aggregate commitments thereunder from $300,000,000 to $250,000,000; permits credit extensions under the Modified Facility based on availability under a borrowing base comprised of eligible billed accounts receivable, eligible unbilled accounts receivable and eligible equipment of Basic. provides for the replacement of the existing financial covenants with new financial covenants, which apply only if availability under the Modified Facility is less than the greater of (i) 25% of the aggregate commitments outstanding or (ii) $62,500,000. If that circumstance exists, Basic will be required to maintain (a) a consolidated senior secured leverage ratio not to exceed 2.50 to 1.00 and (b) a consolidated fixed charge coverage ratio not less than 1.00 to 1.00.

Basic Energy Services, Inc. Reports Production Results for the Month Ended March 31, 2015

Basic Energy Services, Inc. reported production results for the month ended March 31, 2015. For the month, the company reported servicing rig count remained unchanged at 421 compared to last year. Well servicing rig hours were 56,000 compared to 72,500 in last year and producing a rig utilization rate of 55%, compared to 55% and 75% in February 2015 and March 2014, respectively. During the month, Basic's fluid service truck count decreased by 26 to 1,023 compared to 1,049 in last month and 1,012 in last year. Fluid service truck hours for the month were 202,900 compared to 184,100 and 211,000 in February 2015 and March 2014, respectively. Drilling rig days for the month were 186 compared to 301 in last year and producing a rig utilization of 50%, compared to 63% and 81% in February 2015 and March 2014, respectively.

 

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BAS Competitors

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Industry Analysis

BAS

Industry Average

Valuation BAS Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.2x
Price/Book 1.0x
Price/Cash Flow 2.0x
TEV/Sales NM Not Meaningful
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