Oil and Gas Services Stock to Watch: Basic Energy Services, Inc. (NYSE:BAS)
Point Roberts WA – April 29, 2013 – (www.investorideas.com newswire) , Investorideas.com staff: Investorideas.com, an investor research portal specializing in investing ideas in leading sectors including energy stocks releases the following recent additions to the oil and gas stocks directory at Investorideas.com, featuring junior and senior energy stocks on the TSX, OTC, NASDAQ, NYSE, ASX and other leading exchanges.
Basic Energy Services, Inc. (NYSE:BAS) 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 and Appalachian regions. Basic acquired substantially all of the operating assets of Atlas Equipment Company ("Atlas") for $13 million in cash with an additional $9 million of contingent earn-out consideration if certain thresholds are attained. Assets include four mobile water treatment plants that are used for de-watering heavy mud. Three of these plants are located in Rocky Mountain North Dakota and one in . In addition, Basic purchased substantially all of the operating assets of Petroleum Water Solutions LLC ("Petro Water”) for $3.3 million with an additional $3.3 million of contingent earn-out consideration if certain thresholds are attained. Petro Water provides electrocoagulation and filtration services to treat produced salt water and frac flowback water. Frac Tank – Basic provides high quality frac tanks for temporary storage of fluids that are a by-product of well servicing operations. Saltwater Disposal – Basic owns disposal wells that are permitted to dispose of salt water and incidental non-hazardous oil and gas wastes. Texas
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