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OFS - Basic and Superior getting out of pressure pumping - December 2019
Two struggling oil services companies are exiting the struggling fracking sector. Fort Worth-based Basic Energy Services said Dec. 12 it intends to sell its pressure pumping assets except coiled tubing in multiple transactions with expected proceeds of $30-45 million, cash it wants to use on water logistics. In addition, Superior Energy Services is shutting down its fracking subsidiary, the Houston-based company said in a Dec. 16 filing with the US Securities and Exchange Commission.......
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