Basic Energy Services Announces Secondary Common Stock Offering - WCIV-TV | ABC News 4 - Charleston News, Sports, Weather

Basic Energy Services Announces Secondary Common Stock Offering

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SOURCE Basic Energy Services, Inc.

FORT WORTH, Texas, June 9, 2014 /PRNewswire/ -- Basic Energy Services, Inc. (NYSE: BAS) ("Basic") today announced the commencement of a secondary public offering of 6,000,000 shares of common stock on behalf of DLJ Merchant Banking Partners III, L.P. and related funds (the "Selling Stockholders"). Goldman, Sachs & Co. will act as underwriter for the offering. Goldman, Sachs & Co. is expected to be granted a 30-day option to purchase up to 900,000 additional shares from the Selling Stockholders.

Basic will not receive any proceeds from the sale of the shares of common stock by the Selling Stockholders in this offering. The offering will be made pursuant to a shelf registration statement on Form S-3, which was filed with the Securities and Exchange Commission ("SEC") on April 11, 2012 and declared effective on April 17, 2012.

Basic will file a preliminary prospectus supplement with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus supplement and the accompanying prospectus and other documents that Basic has filed with the SEC for more complete information about Basic and this offering. You may obtain these documents for free by visiting EDGAR on the SEC Web site at: www.sec.gov. Alternatively, copies of the prospectus supplement and accompanying prospectus relating to the offering, when available, may be obtained from:

Goldman, Sachs & Co.
Attn: Prospectus Department
200 West Street
New York, NY 10282
telephone: 866-471-2526
facsimile: 212-902-9316
e-mail: prospectus-ny@ny.email.gs.com

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. The offer is being made only through the prospectus supplement and accompanying prospectus.

About Basic Energy Services

Basic Energy Services provides well site services essential to maintaining production from the oil and gas wells within its operating area.  The company employs more than 5,600 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 and Appalachian regions.

Forward-Looking Statements Disclaimer

This press release contains forward-looking statements. Forward-looking statements give Basic's current expectations or forecasts of future events based on assumptions and estimations that management believes are reasonable given currently available information. Forward-looking statements in this press release relate to, among other things, the pending offering by the Selling Stockholders. Information on risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements is available in Basic's filings with the Securities and Exchange Commission.

 

Contacts:

 Alan Krenek, Chief Financial Officer


 Basic Energy Services, Inc.


 817-334-4100


 

 Jack Lascar/Sheila Stuewe


 Dennard-Lascar Associates


 713-529-6600

 

 

©2012 PR Newswire. All Rights Reserved.

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