Basic Energy Services, Inc. (OTCQX: BASX) ("Basic” or the "Company”) was recognized with the top ranking in customer satisfaction in EnergyPoint Research’s 2020 Oilfield Services Customer Satisfaction Survey. The Company rated first in Workovers and Well Services, as well as in Water Management Services.
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The rankings covered 33 companies this year, the largest such survey to date by EnergyPoint. The survey has been conducted annually since 2008 and focuses on the oil and gas industry’s satisfaction with the product and service providers serving the industry.
"I am extremely proud of our employees at Basic for their long-standing commitment to delivering safe, high-quality services to our customers. 2020 marks the fifth year running that we have achieved first place ratings in multiple categories in the EnergyPoint Research survey,” said Keith Schilling, President and CEO of Basic. "This recognition is a testament to the hard work our people do every day to ensure that we are the trusted production services company in the U.S. Their commitment to customer satisfaction and dedication to being the leader in the industry are core to this Company and its success in the field.”
About Basic Energy Services Basic Energy Services provides wellsite services essential to maintaining production from the oil and gas wells within its operating areas. The Company’s operations are managed regionally and are concentrated in major United States onshore oil-producing regions located in Texas, California, New Mexico, Oklahoma, Arkansas, Kansas, Louisiana, Wyoming, North Dakota and Colorado. Our operations are focused in liquids-rich basins that have historically exhibited strong drilling and production economics in recent years with a significant presence in the San Joaquin Basin, Permian Basin, Powder River Basin, and the Bakken, Eagle Ford, and Denver-Julesburg shales. We provide our services to a diverse group of over 2,000 oil and gas companies. Additional information on Basic Energy Services is available on the Company’s website at www.basices.com.
Safe Harbor Statement This release includes forward-looking statements and projections, made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact and reflect Basic’s current views about future events. The words "believe," "estimate," "expect," "anticipate," "project," "intend," "seek," "could," "should," "may," "potential" and similar expressions are intended to identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Although Basic believes the expectations reflected in its forward-looking statements are reasonable and are based on reasonable assumptions and estimates, certain risks and uncertainties could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this release and the presentation. These risks and uncertainties include, without limitation, our ability to successfully execute, manage and integrate acquisitions, including the recent acquisition of C&J, reductions in our customers’ capital budgets, our own capital budget, limitations on the availability of capital or higher costs of capital, volatility in commodity prices for crude oil, including the recent significant decline in oil prices, and natural gas, local and global impacts of the COVID-19 virus, and the negative impacts of the delisting of the Company’s common stock from the NYSE. Additional important risk factors that could cause actual results to differ materially from expectations are disclosed in Item 1A of the Company’s most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. While Basic makes these statements and projections in good faith, neither Basic nor its management can guarantee that the transactions will be consummated or that anticipated future results will be achieved. Any forward-looking statement speaks only as of the date on which such statement is made and Basic assumes no obligation to publicly update or revise any forward-looking statements made herein or any other forward-looking statements made by Basic, whether as a result of new information, future events, or otherwise, except as required by applicable law.
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Silhouettes of mobile users are seen next to a screen projection of Instagram logo in this picture illustration taken March 28, 2018.
Reuters/Dado Ruvic/IllustrationInstagram's lead, Adam Mosseri, is "not yet happy" with Reels.
Mosseri on a recent podcast discussed Reels, TikTok, and how creators can make on Instagram.
Here are some key takeaways and a look at what 2021 has in store for creators.
Visit Business Insider's homepage for more stories.
As TikTok's popularity shot short-form video to the forefront of the influencer industry in 2020, platforms like Instagram felt pressure to adapt - and fast.
In August, Instagram launched Reels, its short-form video feature that looked almost exactly like TikTok. Soon after, YouTube announced it would launch "Shorts" and Snapchat debuted "Spotlight," both of which were takes on short-form video.
Reels was first met with mixed reviews from the industry. But as the months progressed, many influencers told Insider they had warmed to the feature because it had reignited their audience growth on the app. Instagram had made Reels a priority and creators who used it regularly reaped the benefits.
"I haven't had this growth in a long time since I started Instagram," content creator Christine Tran Ferguson recently told Insider.
But still, Reels has not yet done much to innovate in short-form video, the head of Instagram Adam Mosseri recently said.
"I'm not yet happy with it," Mosseri told Nilay Patel in a recent episode of The Verge's podcast, Decoder.
"We're growing both in terms of how much people are sharing and how much people are consuming, but we have a long way to go," Mosseri said. "And we have to be honest that TikTok is ahead."
Mosseri said TikTok was ahead of Instagram in product innovations like creating new filters, AR effects, and meme trends.
Reels has had multiple updates in the last few months. The original 15-second videos can now be up to 30 seconds, new music capabilities were added, and shopping on Reels was introduced in December. And if Mosseri's comment are an indication, you can expect more changes ahead.
One change that is on the horizon is expanded Insights, according to Jackson Williams, a member of Instagram's creator partnerships team.
Williams told Insider in a recent interview that these metrics would likely mirror the Insights already available for Instagram feed and Stories posts. Creators can also currently synthesize the engagement rate of Reels by looking at the views (or plays), comments, and likes, Williams said.
For creators, understanding these metrics is crucial for calculating how to price Reels for brand sponsorships. It's also critical for brands to understand the return on investment when using the feature to advertise on the app.
Read more: 'The birth of an entire format': Instagram's short-form video feature Reels started as a TikTok copycat but has become a lucrative revenue source for influencers
A suite of services for creators to make money
"If we want to be the No. 1 place for creators, we need to make sure that we offer a suite of services that they find meaningful and valuable as opposed to just one type of unstable value, which is distribution," Mosseri said on the Verge podcast.
There are three main categories for monetizing Instagram: commerce, "user pay" products, and revenue share.
The first category - commerce - is how a majority of career content creators earn a living through Instagram. Mosseri described this in an October presentation as encompassing branded content, affiliate marketing, and merchandise.
Mosseri said in October that "user pay" products would entail tipping, subscriptions, and paywalled content (such as newsletters, courses, or appearances like Cameo). Instagram launched Badges, its own "user pay" beta test in 2020, which allows creators to earn money from tips on Instagram Live.
"We think Badges is a particularly good product for emerging creators," Instagram's chief operating officer Justin Osofsky told Insider in October.
Read more: Instagram's COO breaks down its newly expanded tipping feature called 'Badges,' which one creator said earned her over $1,000 in a week
The last category is revenue share, which Instagram launched via IGTV by placing 15-second ads on videos. Creators can then earn a 55% commission. The program is still in beta testing.
In 2021, creators can expect Instagram to expand its tools for making money.
"The second half of last year, we were obviously super focused on starting to roll out IGTV ads, launching Badges," Williams said. "I think the early work for this year is really going to be about expanding access to both of those for creators and making sure that we can start to deliver meaningful revenue to creators who are using those."
"And then I think later in the new year, hopefully, you'll start to see some additional innovation from us on ways that we can start to help creators monetize even further on Instagram," Williams said.
Read more: 7 Instagram micro influencers explain how much money they charge brands for sponsorships
UBS Investment Bank today announced coupon payments for 7 ETRACS Exchange Traded Notes (the "ETNs”), all traded on the NYSE Arca.
NYSE Ticker
ETN Name and Prospectus/Pricing Supplement*
ValuationDate
Ex-Date
Record Date
PaymentDate
CouponAmount
PaymentSchedule
Current Yield(annualized)
SDYL**
ETRACS Monthly Pay 2xLeveraged S&P Dividend ETN
7/30/2020
8/11/2020
8/12/2020
8/20/2020
$0.3280
Monthly
6.20%
LMLB**
ETRACS Monthly Pay 2xLeveraged Wells Fargo MLP Ex-Energy ETN Series B
7/30/2020
8/11/2020
8/12/2020
8/20/2020
$0.0313
Monthly
17.97%
HDLB**
ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B
7/30/2020
8/11/2020
8/12/2020
8/20/2020
$0.0690
Monthly
11.51%
SMHB**
ETRACS Monthly Pay 2xLeveraged US Small Cap High Dividend ETN Series B
7/30/2020
8/11/2020
8/12/2020
8/20/2020
$0.0419
Monthly
12.53%
PFFL**
ETRACS Monthly Pay 2x
Leveraged Preferred Stock ETN
7/30/2020
8/11/2020
8/12/2020
8/20/2020
$0.1515
Monthly
11.25%
CEFD**
ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN
7/30/2020
8/11/2020
8/12/2020
8/20/2020
$0.2465
Monthly
8.54%
MVRL**
ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN
7/30/2020
8/11/2020
8/12/2020
8/20/2020
$0.1796
Monthly
13.51%
* The table above provides a hyperlink to the relevant prospectus and supplements thereto for each of our ETRACS ETNs, which are identified by their names. For more information on each ETRACS ETN, see "List of ETNs”.
** "Current Yield (annualized)” equals the current Coupon Amount and the two immediately preceding Coupon Amounts, multiplied by four (to annualize such coupons), divided by the closing Current Indicative Value of the ETN on its current Coupon Valuation Date rounded to two decimal places for ease of analysis. The Current Yield is not indicative of future coupon payments, if any, on the ETN. You are not guaranteed any coupon or distribution amount under the ETN.
Note: SDYL, LMLB, HDLB, SMHB and PFFL pay a variable monthly coupon linked to 2 times the cash distributions, if any, on the respective underlying index constituents, less withholding taxes, if any. CEFD and MVRL pay a variable monthly coupon linked to 1.5 times the cash distributions, if any, on the respective underlying index constituents, less withholding taxes, if any. Variations in the amount of monthly distributions will lead to large variations in the Current Yield as calculated above. As such, the Current Yield for each is not indicative of future coupon payments, if any, on these ETNs.
About ETRACS
ETRACS ETNs are senior unsecured notes issued by UBS AG, are traded on NYSE Arca, and can be bought and sold through a broker or financial advisor. An investment in ETRACS ETNs is subject to a number of risks, including the risk of loss of some or all of the investor’s principal, and is subject to the creditworthiness of UBS AG. Investors are not guaranteed any coupon or distribution amount under the ETNs. We urge you to read the more detailed explanation of risks described under "Risk Factors” in the applicable prospectus supplement, or product supplement and pricing supplement, as applicable, for the ETRACS ETN.
UBS AG has filed a registration statement (including a prospectus and supplements thereto) with the Securities and Exchange Commission, or SEC, for the offerings of securities to which this communication relates. Before you invest, you should read the prospectus, along with the applicable prospectus, pricing, or product supplement to understand fully the terms of the securities and other considerations that are important in making a decision about investing in the ETRACS. The applicable offering document for each ETRACS may be obtained by clicking on the name of each ETRACS identified above. You may also get these documents without cost by visiting EDGAR on the SEC website at www.sec.gov. The securities related to the offerings are not deposit liabilities and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency of the United States, Switzerland or any other jurisdiction.
About UBS
UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland. UBS's strategy is centered on our leading global wealth management business and our premier universal bank in Switzerland, enhanced by Asset Management and the Investment Bank. The bank focuses on businesses that have a strong competitive position in their targeted markets, are capital efficient, and have an attractive long-term structural growth or profitability outlook.
UBS is present in all major financial centers worldwide. It has offices in more than 50 regions and locations, with about 31% of its employees working in the Americas, 32% in Switzerland, 19% in the rest of Europe, the Middle East and Africa and 18% in Asia Pacific. UBS Group AG employs over 67,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
This material is issued by UBS AG and/or any of its subsidiaries and/or any of its affiliates ("UBS"). Products and services mentioned in this material may not be available for residents of certain jurisdictions. Past performance is not necessarily indicative of future results. Please consult the restrictions relating to the product or service in question for further information. Activities with respect to US securities are conducted through UBS Securities LLC, a US broker/dealer. Member of SIPC (https://www.sipc.org/).
ETRACS ETNs are sold only in conjunction with the relevant offering materials. UBS has filed a registration statement (including a prospectus, as supplemented by the applicable prospectus supplement, or product supplement and pricing supplement, for the offering of the ETRACS ETNs) with the Securities and Exchange Commission (the "SEC”) for the offering to which this communication relates. Before you invest, you should read these documents and any other documents that UBS has filed with the SEC for more complete information about UBS and the offering to which this communication relates. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, you can request the applicable prospectus supplement, or product supplement and pricing supplement, by calling toll-free (+1-877-387 2275). In the US, securities underwriting, trading and brokerage activities and M&A advisor activities are provided by UBS Securities LLC, a registered broker/dealer that is a wholly owned subsidiary of UBS AG, a member of the New York Stock Exchange and other principal exchanges, and a member of SIPC. UBS Financial Services Inc. is a registered broker/dealer and affiliate of UBS Securities LLC.
The ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN ("ETN”) is not sponsored, endorsed, sold or promoted by Market Vectors Index Solutions GmbH ("Licensor”) and Licensor makes no representation or warranty, express or implied, to the owners of the ETN or any member of the public regarding the advisability of investing in securities generally or in the ETN particularly or the ability of the Market Vectors® Global Mortgage REITs Index to track the performance of the mortgage REIT market.
The Dow Jones U.S. Select Dividend Index, the S&P High Yield Dividend Aristocrats Index, and the S&P MLP Index ("Indexes”) are products of S&P Dow Jones Indices LLC and have been licensed for use by UBS AG. Copyright © 2020 S&P Dow Jones Indices LLC ("S&P DJI”), a division of S&P Global. All rights reserved. S&P® is a registered trademark of Standard & Poor’s Financial Services LLC ("S&P”) and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones”). UBS’s ETRACS Exchange Traded Notes based on the Indexes are not sponsored, endorsed, marketed or sold by S&P DJI, S&P, Dow Jones, their affiliates or third party licensors and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the Indexes.
The financial instrument is not sponsored, promoted, sold or supported in any other manner by Solactive AG nor does Solactive AG offer any express or implicit guarantee or assurance either with regard to the results of using the Index and/or Index trade mark or the Index Price at any time or in any other respect.
S-Network Composite Closed-End Fund Index and CEFX are trademarks of Alerian and their use is granted under a license from Alerian.
Wells Fargo Securities, Wells Fargo, Wells Fargo Business Development Company Index, Wells Fargo Diversified Business Development Company Index and the Wells Fargo MLP Ex-Energy Index are trademarks of Wells Fargo & Company and have been licensed for use for certain purposes by UBS. The ETRACS Exchange Traded Notes traded under the tickers BDCS, BDCZ, BDCY and LMLB are based on indices maintained by Wells Fargo Securities, LLC and are not issued, sponsored, endorsed or advised by Wells Fargo Securities, LLC, Wells Fargo & Company or their affiliates ("Wells”) and Wells makes no representation regarding whether such Products are suitable for investors generally or the advisability of trading in such Products. Wells does not guarantee that the Indices referenced by the Products have been accurately calculated or that the Indices appropriately represent particular investment strategies. Wells shall not have any liability for any error in the calculation of the Indices or for any infirmity in the Products. The Indices are calculated by third parties, including NYSE Arca, Inc., which are not affiliated with the issuer of the Products or with Wells and they do not approve, endorse, review or recommend the Indices, UBS or the Products.
NYSE Arca, Inc. ("NYSE Arca”), which acts as calculation agent for the Wells Fargo Business Development Company Index, Wells Fargo Diversified Business Development Company Index and the Wells Fargo MLP Ex-Energy Index (the "Indices”), is not affiliated with UBS AG, Wells Fargo & Company or Wells Fargo Securities, LLC (together, "Wells Fargo”) and does not approve, endorse, review or recommend the Products.
ICE Data and its suppliers disclaim any and all warranties and representations, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use, including the indices, index data and any information included in, related to, or derived therefrom ("index data”). Ice data and its suppliers shall not be subject to any damages or liability with respect to the adequacy, accuracy, timeliness or completeness of the indices and the index data, which are provided on an "as is” basis and your use is at your own risk.
UBS specifically prohibits the redistribution or reproduction of this communication in whole or in part without the prior written permission of UBS and UBS accepts no liability whatsoever for the actions of third parties in this respect.
© UBS 2020. The key symbol, UBS and ETRACS are among the registered and unregistered trademarks of UBS. Other marks may be trademarks of their respective owners. All rights reserved.
_____________________________________1 Individual investors should instruct their broker/advisor/custodian to call us or should call together with their broker/advisor/custodian.
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