MIDLAND, Texas, Nov. 25 /PRNewswire-FirstCall/ -- Basic Energy Services, Inc. (NYSE: BAS) announced today that it has closed the exchange offer relating to its 11.625% Senior Secured Notes due 2014. Basic's offer to exchange up to $225,000,000 aggregate principal amount of its 11.625% Senior Secured Notes due 2014, 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 11.625% Senior Secured Notes due 2014, Series B (the "New Notes") that have been registered under the Securities Act expired on November 19, 2009, at 5:00 p.m.New York City time. On November 25, 2009, Basic closed the exchange offer. Basic accepted for exchange all Old Notes validly tendered and not withdrawn. Basic received and accepted tenders of $225,000,000 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 3,800 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 States.
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.
Jack Lascar/Sheila Stuewe
SOURCE Basic Energy Services, Inc.
Alan Krenek, Chief Financial Officer of Basic Energy Services, Inc., +1-432-620-5510; or Jack Lascar or Sheila Stuewe, both of DRG&E, +1-713-529-6600, for Basic Energy Services, Inc.