Basic Energy Services

OverviewSuggest Edit

Basic Energy Services is focused on the most prolific oil and gas producing regions in the country. From over 100 service points in 13 states, the Company provides a comprehensive range of site services that are fundamental to establishing and maintaining the flow of oil and gas throughout the entire lifecycle of a well.

TypePublic
Founded1992
HQFort Worth, TX, US
Websitebasices.com
Employee Ratings2.8
Overall CultureB

Latest Updates

Employees (est.) (Dec 2019)3,000(-26%)
Job Openings183
Revenue (FY, 2019)$710.1 M(-26%)
Share Price (Dec 2019)$0.2(+21%)
Cybersecurity ratingAMore

Key People/Management at Basic Energy Services

James F. Newman

James F. Newman

Executive Vice President, Operations
Julio Quintana

Julio Quintana

Chairman of the Board
Adam Hurley

Adam Hurley

Executive Vice President, Chief Financial Officer, Treasurer and Secretary
John Jackson

John Jackson

Director
Alan Carr

Alan Carr

Director
Eric Lannen

Eric Lannen

Chief Human Resources Officer
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Basic Energy Services Office Locations

Basic Energy Services has offices in Fort Worth, Fort Morgan, Garden Grove, Longview and in 5 other locations
Fort Worth, TX, US (HQ)
801 Cherry St #2100
Fort Morgan, CO, US
12701 Energy Rd
Garden Grove, CA, US
12891 Nelson St
Longview, TX, US
5209 Estes Pkwy
Midland, TX, US
3503 S County Rd 1210
Midland, TX, US
5805 E Hwy 80
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Basic Energy Services Financials and Metrics

Basic Energy Services Revenue

Basic Energy Services's revenue was reported to be $710.14 m in FY, 2019
USD

Revenue (Q1, 2021)

94.3m

Net income (Q1, 2021)

(37.3m)

EBIT (Q1, 2021)

(33.5m)

Market capitalization (2-Dec-2019)

10.9m

Closing stock price (2-Dec-2019)

0.4

Cash (31-Mar-2021)

4.9m

EV

350.4m
Basic Energy Services's current market capitalization is $10.9 m.
Annual
USDFY, 2011FY, 2012FY, 2013Y, 2013Y, 2014FY, 2014FY, 2015Y, 2015FY, 2017FY, 2018FY, 2019FY, 2020

Revenue

1.2b1.3b1.5b805.6m964.7m710.1m

Revenue growth, %

18%(46%)

Cost of goods sold

766.1m902.6m868.1m1.0b642.9m

Gross profit

477.1m
Quarterly
USDQ2, 2011Q3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021

Revenue

296.9m346.0m370.9m213.3m43.3m246.3m197.2m78.1m70.0m128.5m47.3m53.2m94.3m

Cost of goods sold

237.3m233.0m222.4m211.0m222.5m222.7m232.2m242.9m264.1m195.3m156.6m154.9m112.0m104.7m116.3m171.5m181.3m151.8m59.7m53.8m39.4m44.8m

Gross profit

133.6m45.4m18.4m16.2m7.9m8.4m

Gross profit Margin, %

36%23%24%23%17%16%
USDQ2, 2011

Financial Leverage

4.3 x
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Basic Energy Services Cybersecurity Score

Cybersecurity ratingPremium dataset

A

93/100

SecurityScorecard logo

Basic Energy Services Online and Social Media Presence

Embed Graph

Basic Energy Services Company Culture

  • Overall Culture

    B

    75/100

  • CEO Rating

    B+

    75/100

  • Compensation

    B-

    70/100

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Basic Energy Services News and Updates

Berry Corporation (bry) Announces Entry into “Stalking Horse” Asset Purchase Agreement to Acquire California Assets of Basic Energy Services

DALLAS, Aug. 17, 2021 (GLOBE NEWSWIRE) -- Berry Corporation (bry) (NASDAQ: BRY) (“bry” or the “Company”) today announced that it has entered into an asset purchase agreement (“APA”) as a “stalking horse” bidder to acquire substantially all the assets comprising Basic Energy Services’ (“Basic”) Cal…

Basic Energy Services Announces Share Repurchase Program

FORT WORTH, Texas, May 31, 2019 /PRNewswire/ -- Basic Energy Services, Inc. (NYSE: BAS) ("Basic" or the "Company") announced today that its Board of Directors has authorized the repurchase of up to $5.0 million of its outstanding shares of common stock from time to time in open market or...

Basic Energy Services Reports First Quarter 2019 Results

FORT WORTH, Texas, May 9, 2019 /PRNewswire/ -- Basic Energy Services, Inc. (NYSE: BAS) ("Basic" or the "Company") today announced its financial and operating results for the first quarter ended March 31, 2019. FIRST QUARTER 2019 HIGHLIGHTS Reported revenue of $197.2 million, net loss of...

Basic Energy Services Reports Fourth Quarter And Full Year 2018 Results

FORT WORTH, Texas, Feb. 28, 2019 /PRNewswire/ -- Basic Energy Services, Inc. (NYSE: BAS) ("Basic" or the "Company") today announced its financial and operating results for the fourth quarter and full year ended December 31, 2018. FOURTH QUARTER AND FULL YEAR 2018 HIGHLIGHTS Generated...

Basic Energy Services to Participate in Upcoming Investor Conferences

FORT WORTH, Texas, Nov. 28, 2018 /PRNewswire/ -- Basic Energy Services, Inc. (NYSE: BAS) announced today that its senior management will participate in two upcoming investor conferences, the 2018 Bank of America Merrill Lynch Leveraged Finance Conference in Boca Raton, FL, on December 5,...

Basic Energy Services Reports Third Quarter 2018 Results

FORT WORTH, Texas, Nov. 1, 2018 /PRNewswire/ -- Basic Energy Services, Inc. (NYSE: BAS) ("Basic" or the "Company") today announced its financial and operating results for the third quarter ended September 30, 2018. THIRD QUARTER 2018 HIGHLIGHTS Third quarter 2018 revenue decreased to $246....
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Basic Energy Services Blogs

Basic Energy Services Announces Asset Purchase Agreements with Axis Energy Services, Berry Corporation and Select Energy Services

Axis, Berry and Select to Serve as Proposed “Stalking Horse” Bidders in Court-Supervised Sale Process Sale Processes to Be Facilitated Through Voluntary Chapter 11 Filing FORT WORTH, Texas--(BUSINESS WIRE)-- Basic Energy Services, Inc. (OTCQX: BASX) (“Basic” or the “Company”) today announce…

Basic Energy Services Announces Forbearance Agreements and Super Priority Credit Agreement Maturity Extension and Remains in Continuing Discussions with Lenders and Noteholders

FORT WORTH, Texas--(BUSINESS WIRE)-- Basic Energy Services, Inc. (OTCQX: BASX) (“Basic” or the “Company”) today announced that the termination date in the existing Forbearance Agreement with its ABL lenders and the existing Ascribe Consent Letter has been extended to May 23, 2021, and that the l…

Basic Energy Services Announces Completion of Sale-Leaseback Transaction

FORT WORTH, Texas--(BUSINESS WIRE)-- Basic Energy Services, Inc. (OTCQX: BASX) (“Basic” or the “Company”) today announced that it has completed a sale-leaseback transaction related to certain real property in Los Angeles County, California. The purchase price for the property consisted of $10.5 …

Basic Energy Services Agrees to Sell Non-Core Assets

FORT WORTH, Texas--(BUSINESS WIRE)-- Basic Energy Services, Inc. (OTCQX: BASX) (“Basic” or the “Company”) today announced it has entered into a purchase and sale agreement for the sale of certain non-core assets for a purchase price of $6.6 million, not including the assumption of certain capita…

Basic Energy Services Elects to Utilize Interest Payment Grace Period While Continuing Balance Sheet Deleveraging Discussions with Lenders and Bondholders

FORT WORTH, Texas--(BUSINESS WIRE)-- Basic Energy Services, Inc. (OTCQX: BASX) (“Basic” or the “Company”) today announced it has elected to utilize the 30-day grace period under the terms of the indenture governing its 10.75% senior secured notes due 2023 (the “Notes”) with respect to a $16.335 mill…

Basic Energy Services Announces Extension of Deadlines for Private Exchange Offer, Rights Offering and Consent Solicitation

FORT WORTH, Texas--(BUSINESS WIRE)-- Basic Energy Services, Inc. (OTCQX: BASX) (“Basic” or the “Company”) today announced that it has extended certain deadlines in connection with its previously announced private offer to exchange (the “Exchange Offer”) its 10.75% Senior Secured Notes due 2023 (…
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Basic Energy Services Frequently Asked Questions

  • When was Basic Energy Services founded?

    Basic Energy Services was founded in 1992.

  • Who are Basic Energy Services key executives?

    Basic Energy Services's key executives are James F. Newman, Julio Quintana and Adam Hurley.

  • How many employees does Basic Energy Services have?

    Basic Energy Services has 3,000 employees.

  • Who are Basic Energy Services competitors?

    Competitors of Basic Energy Services include NexTier Oilfield Solutions, Shaanxi Heimao Coking and SPT Energy Group.

  • Where is Basic Energy Services headquarters?

    Basic Energy Services headquarters is located at 801 Cherry St #2100, Fort Worth.

  • Where are Basic Energy Services offices?

    Basic Energy Services has offices in Fort Worth, Fort Morgan, Garden Grove, Longview and in 5 other locations.

  • How many offices does Basic Energy Services have?

    Basic Energy Services has 11 offices.