Basic Energy Services, Inc.
Basic Energy Services, Inc. provides wellsite services to oil and natural gas drilling and producing companies in the United States. Its Well Servicing segment provides services performed with a mobile well servicing rig and ancillary equipment, such as well completion services involving the preparation of newly drilled wells; maintenance work involving removal, repair, and replacement of down-hole equipment and components; well workovers, including deepening, adding productive zones, isolating intervals, or repairing casings required by the operation into and out of the well, or removing equipment from the well bore; and plugging and abandonment services, as well as workover rigs. As of December 31, 2020, this segment operated a fleet of 514 well servicing rigs. The company's Water Logistics segment provides oilfield fluid supply, transportation, storage, and midstream services, such as the operation of company-owned fresh water and brine source wells and of non-hazardous wastewater disposal wells; sale and transportation of fresh and brine water; transportation of fluids used in drilling, completion, workover, and flowback operations and of saltwater produced as a by-product; rental of portable fracturing tanks and test tanks; recycling and treatment of wastewater, including produced water and flowback; and construction and maintenance of oil and natural gas production infrastructures. This segment owned and operated 1,193 water logistics trucks with an average fluid hauling capacity of up to 150 barrels; and owned 80 saltwater disposal wells. Its Completion & Remedial Services segment offers services, including rental and fishing tools; coiled tubing; thru-tubing; and underbalanced drilling in low pressure and fluid sensitive reservoirs. The company was formerly known as Sierra Well Service, Inc. and changed its name to Basic Energy Services, Inc. in 2000. Basic Energy Services, Inc. was founded in 1992 and is headquartered in Fort Worth, Texas. On August 17, 2021, Basic Energy Services, Inc., along with its affiliates, filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas.