Basic Energy Services

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Midland, Texas-based Basic Energy Services (NYSE:BAS) is a provider of well site services that help maintain oil and gas production. The company announced in January, 2011 that it had acquired Platinum Pressure Services, Inc. for $35 million. As part of that acquisition, Basic gained 13 snubbing units primarily at work in the Marcellus shale. It also got six well servicing rigs that had formerly belonged to Platinum's subsidiary, Admiral Well Service, Inc. and are also being used in the Marcellus.