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Basic Energy Services Inc High Risk Report!

Bankruptcy Case Study!
SUITE 2100, UNIT #21, 801 CHERRY STREET
Phone: (817) 334-4100p:817 334-4100 FORT WORTH, TX  76102  United States Fax: (302) 655-5049f:302 655-5049
This company's Plan of Liquidation went into effect on 8/26/2022
On 10/1/2021, Ranger Energy Services, Inc. closed its acquisition of certain assets of Basic Energy Services, Inc. and its subsidiaries through its controlled subsidiary Ranger Energy Acquisition, LLC. Also on 10/1/2021, substantially all of the assets of Agua Libre Midstream LLC and certain water-related assets of Basic Energy Services, L.P. were acquired by Select Energy Services, Inc. pursuant to section 363 of the U Bankruptcy code.
This company is no longer actively traded on any major stock exchange.
Business Summary
Basic Energy Services, Inc. provides wellsite services in the United States to oil and natural gas production companies, with a focus on well servicing, water logistics, and completion and remedial services. The Company’s reportable business segment includes Well Servicing, Water Logistics, and Completion & Remedial Services. Well Servicing segment encompasses a range of services performed with a mobile well servicing rig. Water Logistics segment utilizes a fleet of trucks and related assets, including specialized tank trucks, storage tanks, water wells, disposal facilities, water treatment and related equipment. Completion & Remedial Services segment utilizes coiled tubing services, air compressor packages specially configured for underbalanced drilling operations. The Company’s operations are concentrated in United States onshore oil and natural gas producing regions located in Texas, California, New Mexico, Oklahoma, Arkansas, Louisiana, Wyoming, North Dakota and Colorado.
(Source: 10-K)

Scores and Ratings
FRISK®
Score		 Z''
Score		 PAYCE®
Score		 DBT
Index		 Moody's
Rating		 Fitch
Rating		 DBRS
Rating
-Yes-Yes---

Financials, News and Filings
Latest
Statement		 Last
Audit
News		 SEC
Filings		 Bankruptcy
Filings		 Suit &
Judgment
Filings		 Tax
Lien
Filings
3/31/202112/31/2020YesYesYesYesYes

Industries
SIC Code Description
1389 Oil and gas field services, not elsewhere classified
1381 Drilling oil and gas wells
1623 Water, sewer, pipeline, and communications and power line construction

Officers and Directors

Title
Name
Age		 Title
Date		 Start
Date
President, Chief Executive Officer, Treasurer, Secretary Robert J.Reeb 32 10/7/2021 1/11/2021
Chief Human Resource Officer Eric W.Lannen 55 1/1/2020 8/1/2015
Senior Vice President - Central Region Brandon B.McGuire 43 1/1/2020 1/1/2020
12 additional Officers and Directors records available in full report.

Subsidiaries
Business Name Address City State/Province Country
Agua Libre Midstream LLC 801 Cherry Street Fort Worth TX United States
Basic Energy Services, L.P. 801 Cherry Street Fort Worth TX United States
C&J Well Services, Inc. 801 Cherry Street Fort Worth TX United States
4 additional Subsidiary records available in full report.

Business Names
Business Name
Agua Libre Asset Co LLC
Agua Libre Holdco LLC
BAS
15 additional Business Names available in full report.

General Information
Outstanding Shares: 24,899,932 (As of 5/14/2021)
Shareholders: 133
Stock Exchange: OTC
Federal Tax Id: 542091194
Fax Number: (302) 655-5049


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Sunday, December 1, 2024