Basic Energy Services Merging with Grey Wolf, Inc.

Staff Report
NewsWest 9

MIDLAND - Basic Energy Services will be merging with another company, Grey Wolf, Incorporated.

The merger is set to go through in the third quarter of this year, probably around August.

NewsWest 9 spoke with Basic Energy Services CEO Ken Huseman.

He tells us, although they'll eventually be based out of Houston, Basic's offices in Midland, Odessa, and Big Spring will stay open.

Any branding they've committed to will remain like a sponsorship at Citibank Ballpark with the Midland Rockhounds.

As with many mergers, some employees will be affected, but Huseman says it will more than likely be corporate personnel.

Grey Wolf also has an office in Midland, and the two will eventually merge.

The newly combined entity will continue offering well servicing, drilling, and pressure pumping.

Huseman says, not much will change besides the name.

Basic currently employs about 4,600 people nationally.

And after the merger, that number will grow to about 7,500.

The merger is still pending approval from the S-E-C and F-T-C.

Until then, Huseman says business will go on as usual.

We'll keep you posted on any new developments.