Basic Energy Services Closes Sledge Acquisition
Basic Energy Services, Inc. has completed the previously announced acquisition of all of the outstanding capital stock of Sledge Drilling Holding, Corp. for a total acquisition price, net of estimated working capital, of approximately $56 million. The total acquisition price is comprised of approximately 430,000 shares of Basic common stock, $27 million in cash to Sledge's shareholders, and $19 million for repayment of Sledge outstanding debt.
Basic provides well site services essential to maintaining production from the oil and gas wells within its operating area. The company employs more than 4,100 employees in more than 100 service points throughout the major oil and gas producing regions in Texas, Louisiana, Oklahoma, New Mexico, Arkansas, Kansas and the Rocky Mountain States.
- Basic Energy Services Closes Exchange Offer (Nov 26)
- Basic Energy Services Commences Private Offer of $225MM of Senior Notes (Jul 06)
- Basic Energy Posts Operating Results, Well Servicing Rig Count for June (Jul 06)
Company: Sledge Drilling Holdings Corp. more info
- Basic Energy Services Closes Sledge Acquisition (Apr 04)
- Basic Energy Services to Acquire Sledge (Mar 15)