Market Overview

Basic Energy Services Closes Exchange Offer

FORT WORTH, Texas, Jan. 22, 2013 /PRNewswire/ -- Basic Energy Services, Inc. (NYSE: BAS) ("Basic") announced today that it has closed the exchange offer relating to its 7¾% Senior Notes due 2022.  Basic's offer to exchange up to $300,000,000 aggregate principal amount of its 7¾% Senior Notes due 2022, Series A (the "Old Notes") that were not registered under the Securities Act of 1933, as amended (the "Securities Act"), for an equal principal amount of its 7¾% Senior Notes due 2022, Series B (the "New Notes") that have been registered under the Securities Act expired at 5:00 P.M., New York City time, on January 17, 2013.  On January 22, 2013, Basic closed the exchange offer.  Basic accepted for exchange all Old Notes validly tendered and not withdrawn.  Basic received and accepted tenders of $300,000,000 aggregate principal amount of Old Notes, or 100% of the Old Notes that were outstanding.

Basic Energy Services provides well site services essential to maintaining production from the oil and gas wells within its operating area.  The Company employs more than 5,600 employees in more than 100 service points throughout the major oil and gas producing regions in Texas, Louisiana, Oklahoma, New Mexico, Arkansas, Kansas and the Rocky Mountain and Appalachian regions.

Additional information on Basic Energy Services is available on the Company's website at http://basicenergyservices.com.

 

Contacts:

Alan Krenek, Chief Financial Officer


Basic Energy Services, Inc.


817-334-4100




Jack Lascar/Sheila Stuewe


DRG&L


713-529-6600

SOURCE Basic Energy Services, Inc.

 

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