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OFS - Basic will ‘double down’ on workover rigs as NexTier sells C&J - March 2020
Basic Energy Services acquired NexTier’s well support operations for $93.7 million on March 9, a transaction that shows two companies executing contrasting strategies. While Basic will stress production services by assembling the US’s leading workover fleet by rig count and revenue, NexTier will focus on completions and well construction. Fort Worth, Texas-based Basic started moving in this direction in December when it sold its pressure pumping assets to an unidentified buyer for $52.7 million.......
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