Basic Energy Services Inc.
About
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, New Mexico, Oklahoma, Arkansas, Kansas, Louisiana, Wyoming, North Dakota, California 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 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.
Editor's note: Updated Dec. 13, 2019.
Headquarters Address
801 Cherry Street, Suite 2100
Fort Worth, TX 76102
United States
Website
www.basicenergyservices.comMain Phone Number
Transactions
Select Energy Services to Acquire Basic’s Water Logistics Segment
Select Energy Services to Acquire Basic’s Water Logistics Segment
Basic Energy Services Names Bankruptcy Auction Winners Including Houston’s Ranger
Basic Energy Services Names Bankruptcy Auction Winners Including Houston’s Ranger
Berry to Acquire Basic Energy Services’ California Business in Bankruptcy Auction
Berry to Acquire Basic Energy Services’ California Business in Bankruptcy Auction
Basic Energy Services Sells Remaining Assets to Axis Energy Services
Basic Energy Services Sells Remaining Assets to Axis Energy Services
Basic Energy Services to Sell Noncore Assets Following Missed Debt Payment
Basic Energy Services to Sell Noncore Assets Following Missed Debt Payment
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New Financings
Has priced its previously announced offering of $300 million aggregate principal amount of 10.75% senior…
Will redeem its 7.125% senior notes. The Bank of New York Mellon Trust Co. NA is the trustee under the…
The company reported the pricing of a secondary public offering of 5,000,000 shares of common stock owned…
The company reported the commencement of a secondary public offering of 9,000,000 shares of common stock…
The company has commenced an offering, through a Rule 144A private placement, of up to $175 million of…
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News
Basic Energy Services Names Bankruptcy Auction Winners Including Houston’s Ranger
Houston-based Ranger Energy Services beat out the original stalking-horse bidder for the acquisition of Basic’s well servicing and completion and remedial segment assets outside of California through a competitive bankruptcy auction process.
Berry to Acquire Basic Energy Services’ California Business in Bankruptcy Auction
The transaction provides a growth opportunity for the E&P operator to play a larger role in plugging and decommissioning the significant portfolio of orphan and idle wells in California, estimated to be a $6 billion market, says Berry CEO Trem Smith.
Basic Energy Services to Sell Noncore Assets Following Missed Debt Payment
Fort Worth, Texas-based oilfield service provider Basic Energy Services agreed to the sale of certain noncore assets on April 27, including heavy-duty trucks, light-duty vehicles, fracturing tanks and certain noncore saltwater disposal wells.
Basic Energy Services CFO David Schorlemer to Resign; Adam Hurley Named Successor
David Schorlemer will exit his role as CFO in order to pursue other interests, Basic Energy Services said on Sept. 30.
Basic Energy Services Consolidates US Lower 48 Operations
Similar to its peers in the service sector, Basic Energy Services has made moves over the past several months to protect its balance sheet as oil and gas operators slam on the brakes on activity.
Basic Energy Launches Automated Water Management Solution with Permian Operator
Basic Energy Services Inc. has successfully tested an automated water management solution with a major U.S. operator, the company said on May 8.
Key Players: Meeting E&P Water Management Demands
Service companies continue to innovate to improve operational efficiencies in the water management sector.
Basic Energy Services Acquires NexTier’s Well Services Business For $94 Million
Basic Energy Services said the acquisition of the NexTier production operations positions the company as the leading well servicing provider in the U.S.
Basic Energy Services Joins OFS Portal
OFS Portal said on Jan. 22 that Basic Energy Services has joined the organization as a supplier subscriber member.
Fed Survey Doubles Job Loss Estimates For Texas Oil And Gas
The Federal Reserve Bank of Dallas has doubled its estimates for job losses this year through October in the oil and gas industry of Texas, as companies rein in spending in the face of volatile oil prices.
Basic Energy Services To Exit Hydraulic Fracturing Business
Basic Energy Services revealed a plan on Dec. 12 to divest of its pumping services assets in multiple transactions with expected proceeds of approximately $30 million to $45 million.
Basic Energy Services CEO T.M. Patterson To Step Down
Basic Energy Services said CEO T.M. “Roe” Patterson notified the company on Sept. 13 that he plans to transition away from the company to pursue other business opportunities.
Basic Energy Services Establishes Permian Basin-Focused Water Subsidiary
Basic Energy Services is launching a new subsidiary that will move and dispose oilfield wastewater in the Permian Basin along with other basins.
Basic Energy Services Rig Drills 3.4-Mile Lateral In Permian Basin
Rig #1826, based in Big Spring, Texas, along with a bundled Basic high-spec ancillary equipment package successfully drilled out frac plugs over a total horizontal displacement of 17,935 ft (3.4 miles).
Oil Service Firms Eye New Survival Tactics Amid Weak US Market
The last time supplies overwhelmed demand, oilfield service suppliers cut hundreds of thousands of jobs and top firms gushed red ink.