7:22AM Basic Energy Services reports October operating data; well servicing rig hours for the month were 78,600 producing a rig utilization rate of 72% (BAS) 9.28 : Basic's well servicing rig count remained unchanged at 431. Well servicing rig hours for the month were 78,600 producing a rig utilization rate of 72%, compared to 71% and 78% in September 2012 and October 2011, respectively. During the month, Basic's fluid service truck count increased by 11 trucks to 951. Fluid service truck hours for the month were 194,700 compared to 175,000 and 193,500 in September 2012 and October 2011, respectively. Drilling rig days for the month were 315 producing a rig utilization of 85%, compared to 80% and 90% in September 2012 and October 2011, respectively.
I agree. October was not bad. but Ken Huseman also said "We expect that well servicing utilization will decline to the mid-60% range in November and December as the result of declining daylight hours, and the impact of Thanksgiving and year end holidays, as well as the possibility of weather interruptions."
so its all down to how much the customers of BAS want to spend in 2013. once that is clear and if it is promising, only then we will see a rally. just my 2 cents.