BASIC ENERGY SERVICES, INC.
We provide a wide range of 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. These services are fundamental to establishing and maintaining the flow of oil and natural gas throughout the productive life of a well. Our broad range of
services enables us to meet multiple needs of our customers at the well site. We were organized in 1992 as Sierra Well Service, Inc., a Delaware corporation, and in 2000 we changed our name to Basic Energy Services, Inc. References to
Basic, the Company, we, us or our in this report refer to Basic Energy Services, Inc., and, unless the context otherwise suggests, its wholly owned subsidiaries and its controlled
Our operations are managed regionally and are concentrated in major United States onshore oil and natural gas producing
regions located in Texas, New Mexico, Oklahoma, Arkansas, Kansas, Louisiana, Wyoming, North Dakota, and the Rocky Mountain and Appalachian regions. Our operations are focused on liquids-rich basins that have historically exhibited strong drilling
and production economics in recent years as well as natural gas-focused shale plays characterized by prolific reserves. Specifically, we have a significant presence in the Permian Basin and the Bakken, Eagle
Ford, Haynesville and Marcellus shales. We provide our services to a diverse group of over 2,000 oil and gas companies.
operating segments are Completion and Remedial Services, Fluid Services, Well Servicing, and Contract Drilling. These segments were selected based on managements resource allocation and performance assessment in making decisions regarding the
Company. The following is a description of our business segments:
||Completion and Remedial Services. Our completion and remedial services segment operates our fleet of pumping units, an array of specialized rental equipment and fishing tools, coiled tubing units, snubbing units,
thru-tubing, air compressor packages specially configured for underbalanced drilling operations, cased-hole wireline units and nitrogen units. The largest portion of this business segment consists of pumping services focused on cementing, acidizing
and fracturing services in niche markets. |
||Fluid Services. Our fluid services segment utilizes our fleet of 940 fluid service trucks and related assets, including specialized tank trucks, storage tanks, water wells, disposal facilities, water treatment
and construction and other related equipment. These assets provide, transport, store and dispose of a variety of fluids, as well as provide well site construction and maintenance services. These services are required in most workover, completion and
remedial projects and are routinely used in daily producing well operations. |
||Well Servicing. Our well servicing segment operates our fleet of 421 well servicing rigs and related equipment. This business 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. Our well servicing equipment and capabilities also facilitate most other services performed on a well. |
||Contract Drilling. Our contract drilling segment operates our fleet of 12 drilling rigs and related equipment. We use these assets to penetrate the earth to a desired depth and initiate production from a well.
On October 25, 2016, Basic and certain of its subsidiaries filed voluntary petitions (the cases commenced thereby, the
Chapter 11 Cases) under chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the District of Delaware to pursue a balance sheet restructuring pursuant to a Joint Prepackaged Chapter 11 Plan of the
debtors (as amended and confirmed, the Prepackaged Plan). On December 23, 2016 (the Effective Date), the Prepackaged Plan became effective pursuant to its terms and the Company emerged from its Chapter 11 Cases.
You can find more information about the Prepackaged Plan and our emergence from bankruptcy in our Annual Report on Form 10-K for the fiscal year ended December 31, 2016 (the 2016 10-K), which is incorporated by reference in this prospectus.
Our principal executive offices are located at 801 Cherry Street, Suite 2100, Fort Worth, Texas 76102 and our telephone number is (817) 334-4100. Our Internet website is www.basicenergyservices.com. The information contained on or that can be accessed through our website does not constitute a part of this prospectus.