Basic Energy (BAS -5.7%) expects Q1 revenue growth of ~1% Q/Q, less than its previous guidance...

|About: Basic Energy Services, Inc. (BAS)|By:, SA News Editor

Basic Energy (BAS -5.7%) expects Q1 revenue growth of ~1% Q/Q, less than its previous guidance of 2%-3%, after reporting its well servicing rig count remained unchanged in March. But BAS sees Q2 revenue ~10% higher Q/Q, implying a result of ~$335M, pointing to recent improvements in the rig count, particularly in the Permian Basin market.