Form 8-K BASIC ENERGY SERVICES For: Nov 21
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E-mailUNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 21, 2016
Basic Energy Services, Inc.
(Exact name of registrant as specified in its charter)
Delaware | 1-32693 | 54-2091194 | |
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | |
801 Cherry Street, Suite 2100 | |||
Fort Worth, Texas | 76102 | ||
(Address of principal executive offices) | (Zip Code) | ||
Registrant’s telephone number, including area code: (817) 334-4100
Not Applicable
(Former name or former address, if changed since last report.)
________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 7.01 Regulation FD Disclosure.
On November 21, 2016, Basic Energy Services, Inc. (“Basic”) issued a press release announcing that the New York Stock Exchange (the “NYSE”) has accepted Basic’s plan for continued listing on the NYSE. A copy of the press release is being furnished as Exhibit 99.1 and is incorporated into this Item 7.01 by reference.
The information furnished pursuant to Item 7.01, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing of Basic’s under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) | Exhibits | |
99.1 | Press Release dated November 21, 2016. | |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Basic Energy Services, Inc. | ||||
Date: November 21, 2016 | By: | /s/ Alan Krenek | ||
Alan Krenek | ||||
Senior Vice President, Chief Financial Officer, | ||||
Treasurer and Secretary | ||||
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EXHIBIT INDEX
(d) | Exhibits | |
99.1 | Press Release dated November 21, 2016. | |
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Exhibit 99.1
NEWS RELEASEContacts: | Alan Krenek, |
Chief Financial Officer | |
Basic Energy Services, Inc. | |
817-334-4100 | |
Jack Lascar | |
Dennard ▪ Lascar Associates | |
713-529-6600 | |
BASIC ENERGY SERVICES CONTINUED LISTING PLAN
ACCEPTED BY THE NYSE
FORT WORTH, Texas – November 21, 2016 – Basic Energy Services, Inc. (NYSE: BAS) (“Basic” or the “Company”) announced today that the New York Stock Exchange (NYSE) has accepted the Company’s plan for continued listing on the NYSE. As a result, Basic’s common stock will continue to be listed on the NYSE, subject to quarterly reviews by the NYSE to monitor the Company’s progress against the plan to restore compliance with continued listing standards.
The NYSE had notified Basic on August 19, 2016 of non-compliance (the NYSE Notice) with the market capitalization and share price continued listing standards under Sections 802.01B and 802.01C of the NYSE Listed Company Manual.
Basic has a period of six months from the date of the NYSE Notice to regain compliance with the minimum share price criteria by bringing its share price and thirty trading-day average share price above $1.00. Basic has also a period of 18 months from the date of the NYSE Notice to regain compliance with the market capitalization requirements of the NYSE listing standards. Should the Company’s average global market capitalization over a consecutive 30 trading-day period fall below $15 million, the NYSE will promptly initiate suspension and delisting procedures.
About Basic Energy Services
Basic Energy Services provides well site services essential to maintaining production from the oil and gas wells within its operating area. The Company employs more than 3,500 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.
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