Like many suppliers in the U.S. oilfield, Basic Energy Services has been badly beaten up. The culprit is a once-in-a-generation downturn that engulfed the entire industry, pushing Basic’s latest quarterly revenues down 70% compared to their peak just 18 months earlier.
It recently culminated in the company’s announcement that it will pursue a prepackaged bankruptcy and recapitalization plan. Continue reading “Basic Energy Services: The Opportunity after the Storm”