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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

Main Phone Number

Transactions

Report Date Amount (MM) Description
2021-10-04 $20.00

Select Energy Services to Acquire Basic’s Water Logistics Segment

Select Energy Services to Acquire Basic’s Water Logistics Segment

Report Date Amount (MM) Description
2021-10-01 $36.65

Basic Energy Services Names Bankruptcy Auction Winners Including Houston’s Ranger

Basic Energy Services Names Bankruptcy Auction Winners Including Houston’s Ranger

Report Date Amount (MM) Description
2021-09-16 $43.00

Berry to Acquire Basic Energy Services’ California Business in Bankruptcy Auction

Berry to Acquire Basic Energy Services’ California Business in Bankruptcy Auction

Report Date Amount (MM) Description
2021-08-17 --

Basic Energy Services Sells Remaining Assets to Axis Energy Services

Basic Energy Services Sells Remaining Assets to Axis Energy Services

Report Date Amount (MM) Description
2021-04-27 $8.30

Basic Energy Services to Sell Noncore Assets Following Missed Debt Payment

Basic Energy Services to Sell Noncore Assets Following Missed Debt Payment

Report Date Amount (MM) Description
Report Date Amount (MM) Description
Report Date Amount (MM) Description
Report Date Amount (MM) Description
Report Date Amount (MM) Description
Report Date Amount (MM) Description
Report Date Amount (MM) Description
Report Date Amount (MM) Description
Report Date Amount (MM) Description
Report Date Amount (MM) Description
2100-10-01 $000.00

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2100-10-01 $000.00

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2100-10-01 $000.00

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2100-10-01 $000.00

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Locked Data

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New Financings

Report Date Type Amount (MM) Description
2018-09-25 Basic Energy Services Inc. Debt $300.00

Has priced its previously announced offering of $300 million aggregate principal amount of 10.75% senior…

Report Date Type Amount (MM) Description
2012-10-19 Basic Energy Services Inc. - 2012-10-19 Debt $7.70

Will redeem its 7.125% senior notes. The Bank of New York Mellon Trust Co. NA is the trustee under the…

Report Date Type Amount (MM) Description
2011-07-28 Basic Energy Services Inc. - 2011-07-28 Equity $162.50

The company reported the pricing of a secondary public offering of 5,000,000 shares of common stock owned…

Report Date Type Amount (MM) Description
2011-07-25 Basic Energy Services Inc. - 2011-07-25 Equity $322.20

The company reported the commencement of a secondary public offering of 9,000,000 shares of common stock…

Report Date Type Amount (MM) Description
2011-06-08 Basic Energy Services Inc. - 2011-06-08 Debt $175.00

The company has commenced an offering, through a Rule 144A private placement, of up to $175 million of…

Report Date Type Amount (MM) Description
Report Date Type Amount (MM) Description
Report Date Type Amount (MM) Description
Report Date Type Amount (MM) Description
Report Date Type Amount (MM) Description
2100-05-23 Transaction $888.88

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2100-05-23 Transaction $888.88

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2100-05-23 Transaction $888.88

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Locked Data

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Instantly unlock over 15 years of A&D transactions and financing data.

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.