Basic Energy Services, Inc. announced that as of the December 23, 2016 (effective date), the following directors have been deemed to have resigned from the Board in connection with the Company's emergence from the Chapter 11 Cases and pursuant to the Prepackaged Plan: William Chiles, Robert Fulton, Antonio Garza, Jr., James D'Agostino, Jr., Kenneth Huseman, Thomas Moore, Jr., Steven Webster and Sylvester Johnson, IV. Prior to the departure of these directors, Mr. Webster served as Chairman of the Board; Mr. Moore served as the Chairman of the Audit Committee and sat on the Nominating and Governance Committee; Mr. Johnson served as Chairman of the Nominating and Governance Committee; Mr. Chiles served as the Chairman of the Compensation Committee and sat on the Audit Committee; Mr. D'Agostino sat on the Audit Committee and the Compensation Committee; Mr. Fulton sat on the Nominating and Corporate Governance Committee; and Mr. Garza sat on the Compensation Committee. On the Effective Date, the Board consists of six initial members. Pursuant to the Prepackaged Plan, T.M. Roe Patterson, the Company's President and Chief Executive Officer, has continued as a director along with five directors designated under the Prepackaged Plan. On the Effective Date, pursuant to the Prepackaged Plan, the Company's Board consists of Timothy H. Day (serving as Chairman of the Board), Julio Quintana, John Jackson, Samuel E. Langford and James D. Kern. On the Effective Date, each of the six designated directors were also assigned to the following classes of directors in accordance with the Restated Bylaws of the Company: Class I (initial term expiring in 2017)- Messrs. Patterson and Quintana; Class II (initial term expiring in 2018) - Messrs. Day and Jackson; and Class III (initial term expiring in 2019) - Messrs. Kern and Langford. On the Effective Date, the Board appointed Messrs. Day, Jackson and Kern to serve on the Company's Audit Committee, with Mr. Jackson serving as Chairman of the Audit Committee. On the Effective Date, the Board appointed Messrs. Day, Jackson and Quintana will serve on the Company's Compensation Committee, with Mr. Day serving as Chairman of the Compensation Committee. Messrs. Jackson, Kern and Quintana will serve on the Company's Nominating and Corporate Governance Committee, with Mr. Quintana serving as Chairman of the Nominating and Corporate Governance Committee.