Axis Energy Services, LLC entered into an agreement to acquire Substantially all Well Servicing and Completion & Remedial segment assets of Basic Energy Services from Basic Energy Services, Inc..

Axis Energy Services, LLC entered into an agreement to acquire Substantially all Well Servicing and Completion & Remedial segment assets of Basic Energy Services from Basic Energy Services, Inc. (OTCPK:BASX) on August 17, 2021. Basic has commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of Texas. Axis. serving as the “stalking horse” bidders in the court-supervised sale process. Weil, Gotshal & Manges LLP acted as legal advisor to Basic Energy Services, Inc. Lazard acted as financial advisor to Basic Energy Services, Inc. AlixPartners LLP is serving as restructuring advisor.