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| Basic Energy Services, Inc.. |
| 406 North Big Spring, Midland, TX 79701 * (915) 570-0829 |
| Business Description | The company provides a range of well site services to oil and gas drilling and producing companies through their fleet of well servicing rigs and fluid service trucks and related equipment. |
|
Filing Information IPO has been | |||
| To Trade As | BASC (NASNTL) | Industry | Natural Resource (SIC 1389) |
| Type of Stock Offered | Common Shares | Filing Date | 3/23/00 |
| Domestic Shares Filed | 3,700,000 | Filing Range | $11.00 - $12.00 |
| Foreign Shares Filed | 0 | Offering Amount | $42,550,000 |
| Company Shares | 3,700,000 | Est. Expenses | - - |
| Selling Shrhldrs Shares | 0 | Post-IPO Shares | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Prudential Securities Incorporated | Lead Manager | (212) 778-5420 |
| Johnson Rice & Company | Co-manager | (504) 525-3767 |
| Simmons & Company | Co-manager | (713) 223-7840 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | - - Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/99 | ||||||
| Revenues | - | - | - | - | 37.331 | - | - |
| Income from Oper. | - | - | - | - | -4.422 | - | - |
| Net Income | - | - | - | - | -12.971 | - | - |
| E.P.S | - | - | - | - | -6.780 | - | - |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | - | - | - | ||||
| Cash Flow - Inv. | - | - | - | ||||
| Cash Flow - Fin. | - | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/99 | Financial Ratios | ||||
| Total Assets | 46.86 | Current Assets | 8.97 | Current Ratio | 1.23 |
| Total Liab. | 59.89 | Current Liab. | 7.30 | Debt Ratio | 127.81% |
| Total Equity | -13.03 | Working Cap. | 1.68 | Debt to Equity Ratio | - |
| Cash | 1.06 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to pay the cash portion of the purchase price of the pending acquisitions; to repay the principal plus accrued interest of our Subordinated Notes due 2004, to redeem our Series A cumulative Preferred Stock plus accrued dividends to the date of redemption and to pay remaining expenses in connection with the foregoing and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Andrews & Kurth |
| Bank's Law Firm | Vinson & Elkins |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Southwest Royalties Holdings, Inc. | 66.70 | |
| Joint Energy Development Investments II Limited Partnership c/o Enron | 28.80 | |
| Note: represents ownership of 5% or more prior to the offering. | ||