Basic Energy Services Inc was organized in 1992 as Sierra Well Service, Inc., a Delaware corporation, and in 2000 it changed its name to Basic Energy Services, Inc. The Company provides well site services in the United States to oil and natural gas drilling and producing companies, including completion and remedial services, fluid services, well servicing and contract drilling. Its operations are managed regionally and are concentrated in United States onshore oil and natural gas producing regions located in Texas, New Mexico, Oklahoma, Arkansas, Kansas, Louisiana, Wyoming, North Dakota, Colorado, Utah, Montana, West Virginia, Kentucky, Ohio and Pennsylvania. The Company's current operating segments are Completion and Remedial Services, Fluid Services, Well Servicing, and Contract Drilling. The Completion and Remedial Services segment utilizes a fleet of pumping units, air compressor packages specially configured for underbalanced drilling operations, coiled tubing services, nitrogen services, cased-hole wireline units, an array of specialized rental equipment and fishing tools, thru-tubing and snubbing units. This segment consists of pumping services focused on cementing, acidizing and fracturing services in niche markets. The Fluid Services segment utilizes a fleet of trucks and related assets, including specialized tank trucks, storage tanks, water wells, disposal facilities water treatment and related equipment. These services are required in workover, completion and remedial projects as well as part of daily producing well operations. Also included in this segment are the construction services which provide services for the construction and maintenance of oil and natural gas production infrastructures. The Well Servicing segment encompasses a full range of services performed with a mobile well servicing rig, including the installation and removal of downhole equipment and elimination of obstructions in the well bore to facilitate the flow of oil and natural gas. These services are performed to establish, maintain and improve production throughout the productive life of an oil and natural gas well and to plug and abandon a well at the end of its productive life. Basic's well servicing equipment and capabilities also facilitate other services performed on a well. This segment also includes the manufacture and servicing of mobile well servicing rigs. The Contract Drilling segment utilizes shallow and medium depth rigs and associated equipment for drilling wells to a specified depth for customers on a contract basis. The Company serves numerous and independent oil and gas companies that are active in its core areas of operations. The Companys competitors include Key Energy Services, Inc. and Nabors Well Services Co. The Company is subject to various federal, state and local environmental laws and regulations that establish standards and requirements for protection of the environment.
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