Fort Worth-based Basic Energy Services said March 9 it acquired production assets of NexTier for $94 million. NexTier’s production operation, known as C&J Well Services, was established in San Angelo in 1948 by Frank Pool and is reportedly the third largest rig servicing provider in the U.S. Keith L. Schilling, president and CEO, said, “This transaction solidifies Basic’s foundation to become the leading and most trusted production services provider in the country.”
Basic will expand its workover fleet, which includes 411 high-spec rigs, and grow its workforce to nearly 5,000 in 11 states after adding 1,800 NexTier employees. It will expand its footprint in Permian Basin, California and other regions.