Basic Energy Services, Inc. Form 8-K: Current report
Filings on SEC EDGAR, newest first; amendments sit with their base form. Values are as filed.
- 2021-10-08: Form 8-K; Period of report 2021-10-01; Description 1.03 Bankruptcy or Receivership; 2.01 Completion of Acquisition or Disposition of Assets; 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers; Details 1.03.
- 2021-08-27: Form 8-K; Period of report 2021-08-23; Description 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers; Details 5.02.
- 2021-08-18: Form 8-K; Period of report 2021-08-17; Description 1.01 Entry into a Material Definitive Agreement; 1.03 Bankruptcy or Receivership; 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant; 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement; 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers; 7.01 Regulation FD Disclosure; Details 1.01.
- 2021-08-02: Form 8-K; Period of report 2021-07-27; Description 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers; Details 5.02.
| Filed | Form | Period of report | Description | Details | Document |
|---|---|---|---|---|---|
| 2021-10-08 | 8-K | 2021-10-01 | 1.03 Bankruptcy or Receivership; 2.01 Completion of Acquisition or Disposition of Assets; 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers | 1.03 As previously disclosed, on August 17, 2021, Basic Energy Services, Inc. (the “Company”) and certain of its subsidiaries (collectively, the “Debtors”) filed voluntary petitions (the “Bankruptcy Petitions,” and the cases commenced thereby, the “Chapter 11 Cases”) for relief under chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”). 2.01 The information regarding the Asset Purchase Agreements set forth in Item 1.03 of this Current Report on Form 8-K is incorporated into this Item 2.01 by reference. 5.02 On October 5, 2021, in connection with the consummation of the Sale Transactions: Keith L. Schilling resigned as the Company’s President, and Chief Executive Officer; Adam Hurley resigned as the Company’s Executive Vice President, Chief Financial Officer, Treasurer and Secretary; and James F. Newman resigned as the Company’s Executive Vice President – Operations. | tm2129540d1_8k.htm |
| 2021-08-27 | 8-K | 2021-08-23 | 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers | 5.02 On August 23, 2021, Ross Solomon, a Director of Basic Energy Services, Inc. (the “Company”), provided notice of his resignation from the Company, effective August 23, 2021. | tm2126384d1_8k.htm |
| 2021-08-18 | 8-K | 2021-08-17 | 1.01 Entry into a Material Definitive Agreement; 1.03 Bankruptcy or Receivership; 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant; 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement; 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers; 7.01 Regulation FD Disclosure | 1.01 Entry into a Material Definitive Agreement. 1.03 On August 17, 2021, Basic Energy Services, Inc. (the “Company”) and certain of its subsidiaries (collectively, the “Debtors”) filed voluntary petitions (the “Bankruptcy Petitions,” and the cases commenced thereby, the “Chapter 11 Cases”) for relief under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”). 2.03 The information set forth in Item 1.03 of this Form 8-K regarding the DIP Note is incorporated herein by reference. 2.04 · The ABL Credit Agreement, dated as of October 2, 2018 (as amended, restated, amended and restated, supplemented, or modified from time to time), by and among, the Company, the lenders party from time to time thereto and Bank of America, N.A., in its capacity as administrative agent. 5.02 On August 16, 2021, the Board of Directors of Basic approved the implementation of a Key Employee Retention Program (the “KERP”) for 33 of the Company’s employees, which is designed to retain key employees of the Company in their current roles over the near term while providing them with financial stability. 7.01 On August 17, 2021, the Company issued a press release announcing the filing of the Bankruptcy Petitions and the commencement of the Chapter 11 Cases. | tm2125297d1_8k.htm |
| 2021-08-02 | 8-K | 2021-07-27 | 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers | 5.02 On July 27, 2021, Derek Jeong, a Director of Basic Energy Services, Inc. (the “Company”), provided notice of his resignation from the Company, effective July 30, 2021. | tm2123736d1_8k.htm |
| 2021-06-22 | 8-K | 2021-06-22 | 1.01 Entry into a Material Definitive Agreement | 1.01 Entry into a Material Definitive Agreement. | tm2119622d2_8k.htm |
| 2021-05-20 | 8-K | 2021-05-20 | 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant | 1.01 Entry into a Material Definitive Agreement. 2.03 The information set forth in Item 1.01 above regarding the Term Loan Forbearance Agreement, the Forbearance Amendment, the Ascribe Amendment and the Notes Forbearance Agreement is incorporated herein by reference. | tm2117163d1_8k.htm |
| 2021-05-04 | 8-K | 2021-05-03 | 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant; 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers | 1.01 Entry into a Material Definitive Agreement. 2.03 The information set forth in Item 1.01 above regarding the Super Priority Credit Agreement, the Forbearance Amendment, the Ascribe Consent Letter and the Third Supplemental Indenture is incorporated herein by reference. 5.02 In connection with the Super Priority Credit Agreement, the board of directors of the Company (the “Board”) voted to increase the size of the Board by one seat and resolved that the newly created directorship shall be apportioned as a Class III director position, and appointed Alan Carr as a director of the Company to fill the vacancy created by the increase in the size of the Board, effective immediately. | tm2114324d1_8k.htm |
| 2021-05-03 | 8-K | 2021-04-27 | 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers; 7.01 Regulation FD Disclosure | 5.02 On April 27, 2021, the Company entered into an amendment to the Company’s employment agreement with Adam Hurley (the “Amendment”), the Company’s Executive Vice President, Chief Financial Officer, Treasurer and Secretary. 7.01 On May 3, 2021, Basic Energy Services, Inc. (the “Company”) issued a press release announcing the completion of a sale-leaseback transaction related to certain real property in Los Angeles, California. | tm2114324d2_8k.htm |
| 2021-04-15 | 8-K | 2021-04-15 | 1.01 Entry into a Material Definitive Agreement; 7.01 Regulation FD Disclosure; 8.01 Other Events | 1.01 Entry into a Material Definitive Agreement. 7.01 On April 15, 2021, the Company issued a press release announcing its election to utilize the 30-day grace period with respect to the interest payment due on April 15, 2021 under the indenture governing the Company’s 10.75% senior notes due 2023. 8.01 On April 15, 2021, the Company elected to utilize the 30-day grace period with respect to, and not to make, the approximate $16.335 million semi-annual interest payment that was due on April 15, 2021 with respect to the Company’s outstanding 10.75% senior notes due 2023 (the “Notes”). | tm2113023d1_8k.htm |
| 2021-04-06 | 8-K | 2021-03-31 | 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant | 1.01 Entry into a Material Definitive Agreement. 2.03 The disclosure set forth above in Item 1.01 of this Current Report on Form 8-K under the heading “Issuance of Additional Notes pursuant to the Indenture” is incorporated by reference herein. | tm2112235d1_8k.htm |
| 2021-01-12 | 8-K | 2021-01-11 | 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers | 5.02 Effective as of January 11, 2021, Robert “Robby” J. Reeb, III was appointed to serve as Vice President and General Counsel of Basic Energy Services, Inc., a Delaware corporation (“Basic” or the “Company”). | a2021-q18xkofficerappointm.htm |