Basic Energy sells inland barge workover fleet for $19M

theflyonthewall.com

Basic Energy Services reported that it sold its four inland barge workover rigs, and related equipment, for approximately $19M to a private buyer. As a result of this transaction, the company expects the impact on revenue and earnings for 2014 to be negligible. The company said it plans to reinvest the proceeds from the deal to expands its core service lines during 2014.

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