MIDLAND, Texas, Dec. 8 /PRNewswire/ -- Basic Energy Services, Inc. (NYSE: BAS) today announced the pricing of its initial public offering of 12,500,000 shares of its common stock, 5,000,000 shares of which will be sold by the Company and 7,500,000 shares by selling stockholders, at $20 per share. In connection with the offering, the selling stockholders have granted the underwriters a 30-day option to purchase up to 1,875,000 additional shares, to cover over-allotments, if any.
The Company's common stock is expected to begin trading on the New York Stock Exchange under the ticker symbol "BAS" on December 9, 2005.
The underwriters of the offering include Goldman, Sachs & Co. and Credit Suisse First Boston LLC, who are acting as joint book-running lead managers, and Lehman Brothers Inc., UBS Securities LLC, Deutsche Bank Securities Inc., Raymond James & Associates, Inc. and RBC Capital Markets Corporation, who are acting as co-managers. The offering is being made only by means of a prospectus, copies of which may be obtained by contacting Goldman, Sachs & Co., Prospectus Department, 85 Broad Street, New York, NY 10016 (Fax number: 212-902-9316 or email: firstname.lastname@example.org).
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
Basic Energy Services, with a fleet of more than 300 well servicing rigs, provides a range of well site services to oil and gas drilling and producing companies throughout the major oil and gas regions in Texas, Louisiana, Oklahoma, New Mexico, Louisiana and the Rocky Mountain States.
Contacts: Alan Krenek, Chief Financial Officer
Basic Energy Services, Inc.
Jack Lascar/Sheila Stuewe
DRG&E / 713-529-6600