Unaudited Pro Forma Condensed Consolidated Financial Information

As previously discussed, Basic Energy Services, Inc. (the
Company) and certain of its domestic subsidiaries filed voluntary
petitions for reorganization under Chapter 11 of the United
States Bankruptcy Code in the United States Bankruptcy Court for
the District of Delaware (the Court) on October 25, 2016. On
December 9, 2016, the Court confirmed the Companys First Amended
Joint Prepackaged Chapter 11 Plan of Basic Energy Services, Inc.
and its Affiliated Debtors (as confirmed, the Prepackaged Plan),
and on December 23, 2016, the Company emerged from bankruptcy.

Included in this filing as Exhibit 99.1 is the unaudited pro
forma condensed consolidated statement of operations of the
Company for the year ended December 31, 2016, giving effect to
(i) the consummation of the Prepackaged Plan; (ii) the adoption
of fresh start accounting; and (iii) the reduction of the
Companys senior unsecured notes and long-lived assets.

Indemnification Agreements

Previously, in 2010, the Company approved a form of
indemnification agreement to be entered into with each of its
directors and certain officers (each, an Indemnitee). During
2017, following the Companys emergence from Chapter 11 on
December 23, 2016, the Companys Board of Directors approved a
form of indemnification agreement to be entered into with new
non-employee directors and certain new officers. The new form of
indemnification agreement has terms which are, in all material
respects, the same as those contained in the previously existing
indemnification agreement, the form of which was previously filed
as Exhibit 10.1 to the Companys Form 8-K filed on March 15, 2010.

Each indemnification agreement provides that the Company will
indemnify the applicable Indemnitee to the fullest extent
permitted by applicable law in the event that such Indemnitee, by
reason of such Indemnitees relationship with the Company, is or
is threatened to be made a party to or participant in any
threatened, pending or completed proceeding, other than a
proceeding by or in the right of the Company, against expenses,
judgments, penalties, fines and amounts paid in settlement
actually and reasonably incurred by such Indemnitee or on his or
her behalf in connection with such proceeding, provided that such
Indemnitee acted in good faith and in a manner he or she
reasonably believed to be in or not opposed to the best interests
of the Company, and, with respect to any criminal proceeding,
provided that he or she also had no reasonable cause to believe
his or her conduct was unlawful. The indemnification agreement
further provides that the Company will indemnify such Indemnitee
to the fullest extent permitted by applicable law in the event
that such Indemnitee, by reason of such Indemnitees relationship
with the Company, is or is threatened to be made a party to or
participant in any threatened, pending or completed proceeding
brought by or in the right of the Company to procure a judgment
in its favor, against expenses actually and reasonably incurred
by such Indemnitee or on his or her behalf in connection with
such proceeding, provided that such Indemnitee acted in good
faith and in a manner he or she reasonably believed to be in or
not opposed to the best interests of the Company. Notwithstanding
the foregoing, no indemnification against expenses incurred by
such Indemnitee in connection with such a proceeding brought by
or in the right of the Company will be made in respect of any
claim, issue or matter as to which such Indemnitee is adjudged to
be liable to the Company or if applicable law prohibits such
indemnification being made; provided, however, that, in such
event, indemnification against such expenses will nevertheless be
made by the Company if and to the extent that the court in which
such proceeding has been brought or is pending so determines. The
indemnification agreement also provides for the advance of all
reasonable expenses incurred by such Indemnitee in connection
with any proceeding covered by the indemnification agreement. The
Indemnitee will be required to repay any amounts so advanced if
and to the extent that it is ultimately determined that he or she
is not entitled to be indemnified by the Company against such
expenses.

The foregoing descriptions of the prior form and the new form of
indemnification agreement are qualified in their entirety by
reference to the full text of the 2010 form of indemnification
agreement and the new form of indemnification agreement, which
are filed as Exhibits 10.1 and 10.2, respectively, hereto and are
incorporated herein by reference.