Axis Energy Services Ltd. agreed to acquire Well Servicing and Completion & Remedial Segment Assets Outside of California of Basic Energy on August 17, 2021. Axis will acquire substantially all of the Basic Energy’s Well Servicing and Completion & Remedial segment assets outside of California. In related transactions Basic Energy selling few other assets to Berry and Select. Accordingly, the proposed transactions are subject to higher and better offers, among other conditions. AlixPartners LLP is serving as restructuring advisor. Weil, Gotshal & Manges LLP acted as legal advisor and Lazard Ltd (NYSE:LAZ) acted as financial advisor to Basic Energy.