Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - BASIC ENERGY SERVICES, INC. | h82954e8vk.htm |
| EX-99.2 - EX-99.2 - BASIC ENERGY SERVICES, INC. | h82954exv99w2.htm |
| EX-10.1 - EX-10.1 - BASIC ENERGY SERVICES, INC. | h82954exv10w1.htm |
Exhibit 99.1
|
NEWS RELEASE |
| Contacts: | Alan Krenek, Chief Financial Officer | |||
| Basic Energy Services, Inc. | ||||
| 432-571-8548 | ||||
FOR IMMEDIATE RELEASE
|
Jack Lascar/Sheila Stuewe | |||
| DRG&L / 713-529-6600 |
BASIC ENERGY SERVICES ANNOUNCES PRIVATE OFFERING OF
$175 MILLION OF ADDITIONAL SENIOR NOTES
$175 MILLION OF ADDITIONAL SENIOR NOTES
Midland, Texas — June 8, 2011 — Basic Energy Services, Inc. (NYSE: BAS) (“Basic”) announced
today that it has commenced an offering, through a Rule 144A private placement, of up to $175
million of its 73/4% Senior Notes due 2019. The notes are being offered as additional notes under the
indenture pursuant to which Basic issued $275 million aggregate principal amount of notes on
February 15, 2011. These notes are identical to and will be treated together with the previously
issued notes as a single class of debt securities under the indenture governing the notes and will
trade as a single class. Basic intends to use the net proceeds from the offering to fund a portion
of the $180 million purchase price for the previously announced Maverick Companies Acquisition.
The notes are being offered inside the United States to qualified institutional buyers in reliance
on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the
United States to non-U.S. persons in reliance on Regulation S under the Securities Act.
The notes have not been and will not be registered under the Securities Act or applicable state
securities laws and may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of the Securities Act and applicable state
laws. This announcement shall not constitute an offer to sell or the solicitation of an offer to
buy the notes.
This press release contains forward-looking statements. Forward-looking statements give our current
expectations or forecasts of future events based on assumptions and estimations that management
believes are reasonable given currently available information. Forward-looking statements in this
press release relate to, among other things, the closing of the offering and the use of proceeds
therefrom. Information on risks and uncertainties that could cause actual results to differ
materially from those contemplated by the forward-looking statements is available in Basic’s
filings with the Securities and Exchange Commission.
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