Basic Energy Services Announces New Leadership Position; Appoints Adam Hurley as New Vice President, Strategy and Business Development

FORT WORTH, Texas, July 18, 2018 /PRNewswire/ -- Basic Energy Services, Inc. (NYSE: BAS) ("Basic" or the "Company") is pleased to announce the creation of a new leadership position and the hiring of Adam Hurley as Vice President, Strategy and Business Development reporting to President and CEO, Roe Patterson. Effective immediately, Mr. Hurley will be responsible for focusing on Basic's strategy of leveraging its strong market position in its core markets to accelerate the growth of the Company through a more efficient allocation of its assets. In addition, Mr. Hurley is expected to lead Basic's efforts to further reduce costs, drive efficiencies throughout the organization and identify new M&A opportunities that would allow the Company to have even greater scale in its core markets.

Mr. Hurley earned his Bachelor of Science degree from West Point and has a Master in Business Administration from Duke University. He also has the distinction of serving his country for eight years as an officer in the US Army where he served in multiple combat missions.

Basic Energy Services provides well site services essential to maintaining production from the oil and gas wells within its operating area.  The Company employs over 4,100 employees in more than 100 service points throughout the major oil and gas producing regions in Texas, Louisiana, Oklahoma, New Mexico, Arkansas, Kansas, California and the Rocky Mountain and Appalachian regions. Additional information on Basic Energy Services is available on the Company's website at www.basicenergyservices.com.

Safe Harbor Statement

Statements made in this press release may include forward-looking statements and projections made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Basic has made every reasonable effort to ensure that the information and assumptions on which these statements and projections are based are current, reasonable, and complete. However, a variety of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this release and the presentation, including our ability to successfully execute, manage and integrate acquisitions, reductions in our customers' capital budgets, our own capital budget, limitations on the availability of capital or higher costs of capital, and lower commodity prices. While Basic makes these statements and projections in good faith, neither Basic nor its management can guarantee that the transactions will be consummated or that anticipated future results will be achieved. Basic assumes no obligation to publicly update or revise any forward-looking statements made herein or any other forward-looking statements made by Basic, whether as a result of new information, future events, or otherwise.

SOURCE Basic Energy Services, Inc.