Best Energy Services has opened its South Texas Eagle Ford office, with a start date of January 1, 2011.
The new office and yard is located at 1908 North First Street, Carrizo Springs, Texas. The Eagle Ford operation is being headed by Natividad "Nat" Guerrero, a 30-year veteran in the workover sector.
Best is initially repositioning two of its 400-rated rigs, which are well-suited to the depths of the Eagle Ford in the immediate area. This is also perhaps the most active area of the trend and is predominately oil. The Company anticipates each quarter adding two additional rigs and more if the need warrants.
A recent article quoting Bill Von Gonten, President of W.D. Gonten & Co. Petroleum Engineers, noted that there are already over 105 drilling rigs active in the Trend versus 40 rigs 14 months ago. The same article also noted that there are over 300 wells now producing, and that it could take over 90,000 wells to develop the trend over the next 30 years. By contrast, the Hugoton Basin, where Best now operates has had some 14,000 wells drilled in it over the past 50 years.
In addition to its rigs, Best is redeploying certain mothballed equipment from its previously discontinued operations in Moab Utah, including, pumps and tanks, which are also in high demand in the area.
Best is also exploring the refurbishment and deployment of a number of its housing units from that previously discontinued Housing Division in Cleveland, Texas. Carrizo Springs and the adjacent areas are experiencing an acute housing shortage owing to increasing activity levels.
Commenting on the opening of its new division, Mark Harrington, Best's Chairman and CEO, stated, "We are pleased with the execution steps we are taking and how we are positioning ourselves in this very important emerging exploration area. We will be bringing to our customers in this trend the same "Safety First," value pricing and on job performance that has distinguished Best Well in the Hugoton for the last 20 years. We believe that over the next several years, this area may grow to a deployment level that currently exceeds our active rig count in the Hugoton."
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