Basic

Basic Energy Services Inc. said it’s not interested in an offer by Key Energy Services Inc. to combine their Lower 48 oilfield prowess in an all-stock transaction.

Onshore oilfield operator Basic Energy Services Inc. began trading once again on the New York Stock Exchange Tuesday after emerging from Chapter 11 bankruptcy protection.

Marathon Petroleum Corp. (MPC) announced Wednesday that John Mollenkopf, COO for MarkWest operations following the merger between MPC’s midstream limited partnership, MPLX LP, and MarkWest Energy Partners LP, has decided to retire after a 33-year career in the energy industry (see Shale Daily,July 13, 2015;May 13, 2015). “John’s impact on MarkWest will be recognized long after he retires, particularly in the influential leadership role he played in growing the company’s operations and facilities, which have provided best-in-class service to our customers for over a decade,” MPC CEO Gary Heminger said in a statement. Gregory Floerke, the current chief commercial officer (CCO) for MarkWest Assets, will assume Mollenkopf’s post and report to MPLX President Donald Templin (see Shale Daily,April 9, 2014). Randy Nickerson, who currently serves as MPC’s executive vice president for corporate strategy, will be appointed CCO for MarkWest Assets and also report to Templin. Nickerson will continue in his role to develop overall strategy around midstream assets as they relate to MarkWest, MPLX and MPC. Both Floerke and Nickerson will maintain offices in Denver. The changes will take effect on Oct. 1.

Expectations that maintenance projects that were deferred in the U.S. onshore last year would resume early in 2016 haven’t panned out as expected, Basic Energy Services Inc. CEO Roe Patterson said Thursday. However, production-related activities “appeared to have stabilized” in March, and there’s optimism, however slight, that work is improving steadily.

Expectations that maintenance projects that were deferred in the U.S. onshore last year would resume early in 2016 haven’t panned out as expected, Basic Energy Services Inc. CEO Roe Patterson said Thursday. However, production-related activities “appeared to have stabilized” in March, and there’s optimism, however slight, that work is improving steadily.

Basic Energy Services Inc.’s U.S. onshore rig utilization rate rose slightly from December to January, a small sign of recovery for the battered oilfield services industry, but stacked horsepower continues to climb.

Basic Energy Services Inc.’s well servicing rig hours and drilling rig days continued to slide in December and fall sharply from a year ago during an exceptionally slow holiday period, CEO Roe Patterson said Tuesday.

A compilation of suggestions the Senate Finance Committee has received for reforming taxes on the energy sector can be boiled down to three basic ideas: modify the tax code, replace it, or eliminate it outright.

Low prices have made dry gas from shales a producers’ problem and an end-user’s dream. But interests at both ends of the market do agree that the right gas price — the equilibrium price — would make shale gas a boon for the country.