Basic Energy Services Inc. - 2011-06-08


The company has commenced an offering, through a Rule 144A private placement, of up to $175 million of its 7 3/4% senior notes due 2019. The notes are being offered as additional notes under the indenture pursuant to which Basic issued $275 million aggregate principal amount of notes on February 15, 2011. These notes are identical to and will be treated together with the previously issued notes as a single class of debt securities under the indenture governing the notes and will trade as a single class.

Basic intends to use the net proceeds from the offering to fund a portion of the $180 million purchase price for the previously announced Maverick companies acquisition.

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