Basic Energy closes on $43M buyout of 5 plants

Associated Press

FORT WORTH, Texas (AP) -- Basic Energy Services Inc., a provider of services for oil and gas wells, has completed its $43 million acquisition of five salt water disposal plants in the Bakken Shale in North Dakota.

"These facilities augment our existing fluid services operations in the area and anchor the expansion of our integrated fluid services capabilities in a large and growing portion of the Bakken Shale market," President and CEO Ken Huseman said in a statement.

The deal for the assets of Saltwater Disposal of North Dakota LLC also includes eight housing units.

Basic Energy said Thursday that it expects the buyout to add to its earnings next year and contribute about $14 million in revenue.

Including the acquisition, Basic Energy now has 72 salt water disposal facilities in Texas, Oklahoma, North Dakota, New Mexico and Louisiana.