Basic Energy Services, Inc. Announces Private Offer of $225 Million of Senior Notes

MIDLAND, Texas, July 6  /PRNewswire-FirstCall/ -- Basic Energy Services, Inc. (NYSE:BAS) announced today that it 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.

The notes are being offered inside the United States to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act.

The notes have not been registered under the Securities Act or applicable state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy the notes.

This press release contains forward-looking statements. Forward-looking statements give our 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 closing of the offering and the use of proceeds therefrom.  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 Energy Services' filings with the Securities and Exchange Commission.

  Contacts:  Alan Krenek, Chief Financial Officer
             Basic Energy Services, Inc.
             432-620-5510

             Jack Lascar/Sheila Stuewe
             DRG&E / 713-529-6600


DATASOURCE: Basic Energy Services, Inc.



CONTACT:  Alan Krenek, Chief Financial Officer of Basic Energy Services,

Inc., [phone]; or Jack Lascar/Sheila Stuewe, both of DRG&E,

[phone], for Basic Energy Services, Inc.



Web Site:  http://basicenergyservices.com/ 

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