Basic Energy Services, Inc. filed an asset purchase agreement in the US Bankruptcy Court for the sale of its certain assets on September 18, 2021. As per the agreement dated December 1, 2010, seeks the Court’s approval for the sale of its certain assets to Berry Corporation, the stalking horse bidder for a purchase price of $43 million. The debtor’s assets include its California assets. Under the terms of the asset purchase agreement, the buyer has made/shall make an earnest money deposit of $2.70 million upon the execution of the agreement.