Basic Energy Acquires Chaparral and Reddline Services

Basic Energy Services, Inc. announced it recently acquired all of the outstanding capital stock of Chaparral Services, Inc. and purchased substantially all of the operating assets of Reddline Services, LLC. for a total combined consideration of approximately $20 million in cash, excluding working capital acquired.

Projected full-quarter revenues and EBITDA (earnings before interest, taxes, depreciation and amortization) for the combined transactions are expected to be approximately $4.8 million and $1.4 million, respectively.

Basic Energy Services, with a fleet of more than 350 well servicing rigs, provides a range of well site services to oil and gas drilling and producing companies throughout the major oil and gas regions in Texas, Louisiana, Oklahoma, New Mexico and the Rocky Mountain States.

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