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Basic Energy adds 74K hhp of pressure pumping equipment

Feb. 27, 2017 3:55 PM ETBasic Energy Services, Inc. (BAS) StockBy: Carl Surran, SA News Editor
  • Basic Energy Services (BAS +6.1%) maintains strong gains following news that it signed a $28.5M purchase agreement for a 74K horsepower hydraulic pump to be used in two frac spreads beginning in May.
  • BAS says the purchase will bring its total frac hhp to 431,650 and total hhp to 517,445.
  • CEO Roe Patterson says BAS has seen an increase in frac activity in its Permian Basin and Mid-Continent operating areas and expects to have all remaining stacked fleet activated by the end of March, and has improved its frac pricing by 5%-15% YTD.

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