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Basic Energy Services Agrees to Sell Non-Core Assets
April 27, 2021 GMT
FORT WORTH, Texas (BUSINESS WIRE) Apr 27, 2021
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 capital leases with a remaining balance of approximately $0.7 million and earn-out payment of up to $1.0 million payable one year after closing. The closing date is anticipated to occur approximately thirty days after the execution of the purchase and sale agreement. The sale includes heavy duty trucks, light duty vehicles, fracturing tanks and certain non-core salt water disposal wells.