Reuters Oilfield services provider Basic Energy Services will cut about 500 jobs in Texas, according to a filing with the state’s workforce commission, as the company works through Chapter 11 restructuring that includes asset sales. The job cuts are focused throughout Texas, with 135 positions eliminated in Howard county in west Texas and 120 in Tarrant County, where its headquarters
Basic Energy Services, Inc. (OTCQX: BASX) (“Basic” or the “Company…
Basic Energy Services FORT WORTH, Texas–(BUSINESS WIRE)– Basic Energy Services, Inc. (OTCQX: BASX) (“Basic”) announced today the successful testing of an automated water management solution with a major US operator. The solution provides a step change in efficiency, allowing the client to simply manage their water volumes within their existing internal dispatch system, while Basic’s integrated solution automatically picks up
Basic Energy Services FORT WORTH, Texas–(BUSINESS WIRE)– Basic Energy Services, Inc. (OTCQX:BASX) (“Basic” or the “Company”) today announced that it has acquired the production operations from NexTier (NYSE:NEX) for a consideration of approximately $94 million.The NexTier production operations, known as C&J Well Services, originally established in San Angelo, Texas, in 1948 by Frank Pool, founder of Pool Well Servicing, is
Houston Chronicle Fort Worth oilfield service company Basic Energy Services is exiting the hydraulic fracturing business amid the ongoing shale slump. In a Thursday morning statement, the company reported that it is selling almost all of its assets in the pressure pumping business, which includes hydraulic fracturing and other related services. Basic intends to use to the proceeds from the
Oil and Gas 360 Basic Energy Services, Inc. – FORT WORTH, Texas- (OTCQX: BASX) (“Basic” or the “Company”) today announced that the shares of the Company’s common stock began trading on the OTCQX® Best Market tier of the OTC Markets Group Inc. (“OTCQX”) under the symbol BASX, following notification from the New York Stock Exchange (“NYSE”) on December 2, 2019
Basic Energy Services Breakout Notes Roe Patterson, president and CEO of Basic Energy Services, (ticker: BAS) presented today at EnerCom’s The Oil & Gas Conference® 22. Basic Energy Services provides oilfield service through every stage of a well’s life, and operates in nearly every major U.S. play. In line with current trends in industry activity, the majority of Basic’s recent
In response to cycles in the industry, Basic Energy Services (ticker: BAS) has a formula that is proving out. With a presence in most major U.S. oil producing regions, Basic has built its business on well services during every stage of the well’s life. Basic focuses on matching capital expenses to cash flow, protecting its market share, optimizing its work-force
Basic Energy Services emerges from bankruptcy with $125 million in new capital, and erases $775 million in debt Fort Worth-based Basic Energy Services (ticker: BAS) announced this month that the company has successfully completed its prepackaged restructuring. The company will exit Chapter 11 with $125 million in new capital, and with its debt level reduced by $775 million, according to
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