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.
ETN Name and Prospectus/Pricing Supplement*
ETRACS Monthly Pay 2xLeveraged S&P Dividend ETN
ETRACS Monthly Pay 2xLeveraged Wells Fargo MLP Ex-Energy ETN Series B
ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B
ETRACS Monthly Pay 2xLeveraged US Small Cap High Dividend ETN Series B
ETRACS Monthly Pay 2x
Leveraged Preferred Stock ETN
ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN
ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN
* 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.
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.
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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.
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