Boston, MA 06/18/2013 (wallstreetpr) – The share prices of Basic Energy Services Inc. (NYSE:BAS) had surged by 3.50 percent to close at $13.30 per share for the end of last trading session on Monday. The shares of the company had been trading in the range of $13.00 to $13.39 per share for the day, after opening at $13.05 per share. The shares of Basic Energy Services Inc. (NYSE:BAS) had recorded 52 week high price level at $16.60 per share and 52 week low price level at $8.52 per share.
Basic Energy Services Inc. (NYSE:BAS) is involved in providing a wide range of well site services to the oil and natural gas companies engaged in exploration at their properties. The services provided by the company include completion and remedial services, fluid services, well servicing and contract drilling services. The company had recently reported its operating data for the month of May 2013, in which the well servicing rig count of Basic Energy Services Inc. (NYSE:BAS) remained unchanged at 425. Further the rig utilization rate was reported at 70 percent for the month of May 2013 compared to the utilization rate of 72 percent for both April 2013 and May 2012.
The fluid servicing truck count was reported to be unchanged at 974 and the truck hours for the month were reported higher at 194,300 hours. In addition, Basic Energy Services Inc. (NYSE:BAS) reported drilling rig utilization rate at 78 percent for May 2013 compared to 75 percent for April 2013 and 96 percent for May 2012.
The shares of Basic Energy Services Inc. (NYSE:BAS) had witnessed the trade of 557,514 shares on Monday, while the average trading volume is at 697,208 shares per day. The company presently holds 42.22 million shares outstanding in the market with an institutional ownership of 99 percent of its holdings.
