FORT WORTH, Texas, Aug. 3, 2017 /PRNewswire/ -- Basic Energy
Services, Inc. (NYSE: BAS) ("Basic" or the "Company") today
announced that it has commenced an at-the-market public offering,
under which it may sell up to $50
million of its common stock ("Common Stock") pursuant to an
effective shelf registration statement on Form S-3 previously filed
with the Securities and Exchange Commission (the "SEC").
Basic intends to use the net proceeds of this offering for
general corporate and working capital purposes.
Raymond James & Associates
will act as sales agent for the offering.
The offering may be made only by means of a prospectus and
related prospectus supplement meeting the requirements of Section
10 of the Securities Act of 1933, as amended. A copy of the
prospectus supplement and accompanying base prospectus meeting such
requirements relating to this offering may be obtained from the
sales agent:
Raymond James & Associates,
Inc.
880 Carillon Parkway
St. Petersburg, Florida 33716
Attention: Scott
Warnock
You may also obtain these documents for free when they are
available by visiting the Securities and Exchange Commission's
website at www.sec.gov.
The shelf registration statement relating to these securities
has previously been filed with the SEC and declared effective. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Basic Energy Services, Inc.
Basic provides well site services essential to maintaining
production from the oil and gas wells within its operating
area. The Company employs over 3,900 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.
Safe Harbor Statement
This press release includes forward-looking statements made in
reliance on the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Basic has made every
reasonable effort to ensure that the information and assumptions on
which these statements and projections are based are current,
reasonable, and complete. However, a variety of factors could
cause actual results to differ materially from the projections,
anticipated results or other expectations expressed in this
release, including (i) changes in demand for our services and any
related material impact on our pricing and utilizations rates, (ii)
Basic's ability to execute, manage and integrate acquisitions
successfully, (iii) changes in our expenses, including labor or
fuel costs and financing costs, (iv) continued volatility of oil or
natural gas prices, and any related changes in expenditures by our
customers, and (v) competition within our industry.
Additional important risk factors that could cause actual results
to differ materially from expectations are disclosed in Item 1A of
Basic's Form 10-K for the year ended December 31, 2016, as amended, and subsequent
Form 10-Qs and other reports filed with the SEC. While Basic
makes these statements and projections in good faith, neither Basic
nor its management can guarantee that anticipated future results
will be achieved. Basic assumes no obligation to publicly
update or revise any forward-looking statements made herein or any
other forward-looking statements made by Basic, whether as a result
of new information, future events, or otherwise.
Contacts:
|
Alan
Krenek,
|
|
Chief Financial
Officer
|
|
Basic Energy
Services, Inc.
|
|
817-334-4100
|
|
|
|
Jack
Lascar
|
|
Dennard ▪ Lascar
Associates
|
|
713-529-6600
|
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SOURCE Basic Energy Services, Inc.