Basic Energy Services, Inc. (NYSE:BAS) Files An 8-K Other Events

On March 11, 2020, the Company filed the Original 8-K to report the March 9, 2020 completion of the Transaction between the Company, Ascribe, Seller and CJWS. The Company stated in the Original 8-K that financial statements required by Item 9.01(a) and pro forma financial information required by 9.01(b) with respect to the Transaction would be filed by an amendment to the Original 8-K no later than 71 days after the filing of the Original 8-K. Subsequent to the filing of the Original 8-K and upon further analysis, the Company determined that the Transaction is not significant as defined in the tests of significance under Rule 3-05 of Regulation S-X, and thus the Company is not required to file any financial statements with respect to the Transaction as previously reported by Item 9.01 of the Original 8-K. Accordingly, the Company hereby amends the Original 8-K filed on March 11, 2020 to eliminate references to the subsequent filing of financial statements and pro forma financial information with respect to the Transaction.

Item 9.01 Financial Statements and Exhibits.

(a) Financial Statements of Businesses Acquired

As a result of the Company’s determination that the Transaction is not significant, the Company is not required to file any financial statements with respect to the Transaction as previously reported by Item 9.01(a) of the Original 8-K.

(b) Pro Forma Financial Information

As a result of the Company’s determination that the Transaction is not significant, the Company is not required to file herewith any pro forma financial information with respect to the Transaction as previously reported by Item 9.01(b) of the Original 8-K. The Company plans to file pro forma financial information as required by Accounting Standards Codification Topic – 805 – Business Combinations in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2020.

About Basic Energy Services, Inc. (NYSE:BAS)

Basic Energy Services, Inc. provides a range of well site services in the United States to oil and natural gas drilling and producing companies, including completion and remedial services, fluid services, well servicing and contract drilling. The Company operates through the segment, which include Completion and Remedial Services, Fluid Services, Well Servicing and Contract Drilling. The Company’s operations are managed regionally and are concentrated in the United States onshore oil and natural gas producing regions located in Texas, New Mexico, Oklahoma, Arkansas, Kansas, Louisiana, Wyoming, North Dakota, Colorado, Utah, Montana, West Virginia, California, Ohio and Pennsylvania. Its operations are focused on liquids-rich basins, as well as natural gas-focused shale plays characterized by prolific reserves. It has a presence in the Permian Basin and the Bakken, Eagle Ford, Haynesville and Marcellus shales.