Basic Energy Services Inc. agreed to sell noncore assets after the Fort Worth, Texas-based oilfield service provider disclosed earlier this month it had missed an interest payment due on senior notes and entered into a forbearance agreement.

In an April 27 release, Basic said it had entered into a purchase and sale agreement with an undisclosed company for the sale of certain noncore assets for up to $8.3 million. The sale, according to the release, includes heavy-duty trucks, light-duty vehicles, fracturing tanks and certain noncore saltwater disposal wells.

The deal follows Basic’s decision to use a grace period under the terms of its 2023 senior secure notes to continue its ongoing discussions with its debtholders regarding strategic alternatives to improve Basic’s long-term capital structure.

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