Basic Energy Services Commences Private Offer of $225MM of Senior Notes

Basic Energy Services has commenced an offering, through a Rule 144A private placement, of $225 million of Senior Notes due 2017. Basic Energy Services intends to use a portion of the net proceeds from the proposed offering to pay down an aggregate of approximately $180.0 million under the Tranche A and Tranche B portions of its revolving credit facility (as of July 2, 2009), and the remainder for general corporate purposes.