Tranche Update on Basic Energy Services, Inc.'s Equity Buyback Plan announced on May 31, 2019.

Basic Energy Services, Inc. provides wellsite services in the United States to oil and natural gas production companies, with a focus on well servicing, water logistics, and completion and remedial services. The Company's reportable business segment includes Well Servicing, Water Logistics, and Completion & Remedial Services. Well Servicing segment encompasses a range of services performed with a mobile well servicing rig. Water Logistics segment utilizes a fleet of trucks and related assets, including specialized tank trucks, storage tanks, water wells, disposal facilities, water treatment and related equipment. Completion & Remedial Services segment utilizes coiled tubing services, air compressor packages specially configured for underbalanced drilling operations. The Company's operations are concentrated in United States onshore oil and natural gas producing regions located in Texas, California, New Mexico, Oklahoma, Arkansas, Louisiana, Wyoming, North Dakota and Colorado.