Basic Energy Services, Inc. (OTCQX: BASX) (” Fundamental” or the “Company”) today announced it has actually participated in a purchase and sale arrangement for the sale of particular non-core assets for a purchase cost of $6.6 million, not consisting of the theory of certain capital leases with a outstanding balance of around $0.7 million and earn-out payment of as much as $1.0 million payable one year after closing. The closing date is prepared for to take place around thirty days after the execution of the purchase and sale agreement. The sale consists of strong trucks, light task lorries, fracturing tanks and particular non-core salt water disposal wells.
What is Basic Energy Services and its Benefits
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About Basic Energy Services
Basic Energy Services offers wellsite services essential to preserving production from the oil & gas wells within its operating areas. The Company’s services are managed regionally and are concentrated in larger United States onshore oil-producing regions found in Texas, California, New Mexico, Oklahoma, Arkansas, Louisiana, Wyoming and North Dakota, Colorado & Montana. Also check direct recovery services.
Our operations are focused in prolific containers that have actually historically shown strong drilling and production economics in recent years as well as natural gas-focused shale plays identified by prolific reserves. Specifically, the Company has a meaningful presence in the Permian Basin, Bakken, Los Angeles & San Joaquin Basins, Eagle Ford, Haynesville and Powder River Basin. We offer our services to a varied group of over 2,000 oil and gas business. Extra details on Basic Energy Services is readily available on the Company’s website at www.basices.com.
Safe Harbor Statement
This release includes “forward-looking declarations” within the meaning of the federal and securities laws. Forward-looking declarations are not declarations of historic truth and reflect Basic’s present views about future occasions. The words “believe,” “quote,” “anticipate,” “anticipate,” “task,” “plan,” “look for,” “could,” “should,” “may,” “potential” and comparable expressions are intended to determine forward-looking statements. Nevertheless, the absence of these words does not indicate that the declarations are not forward-looking. Although Fundamental believes the expectations shown in its forward-looking declarations are reasonable and are based upon sensible presumptions and quotes, certain threats and unpredictabilities could cause actual outcomes to differ materially from the forecasts, prepared for results or other expectations revealed in this release.
These dangers and unpredictabilities consist of without constraint, dangers related to a future closing of the purchase and sale arrangement described therein and the fulfillment of the conditions thereto. Extra important risk factors that could trigger real results to differ materially from expectations are revealed in Item 1A of the Company’s latest Annual Report on Kind 10-K and other filings with the Securities and Exchange Commission. Also check crown services.
While Fundamental makes these statements and projections in good faith, neither Standard nor its management can ensure that the transactions will be consummated or that expected future outcomes will be attained. Any forward-looking statement delivers only as of the date on which such statement is presented and Basic presumes no commitment to publicly upgrade or modify any forward-looking declarations made herein or any other positive declarations made by Fundamental, whether as a result of brand-new details, future occasions, or differently, other than as wanted by appropriate law. Also check security services.