Axis Energy Services, LLC entered into agreement to acquire The well servicing and coiled tubing assets from Forbes Energy Services Ltd..

Forbes Energy Services Ltd. is an independent oilfield services contractor. The Company provides a range of well site services to oil and natural gas drilling and producing companies. It operates through three segments. The well servicing segment utilizes a fleet of well servicing rigs, which is comprised of workover rigs, swabbing rigs, and other related assets and equipment. The coiled tubing segment utilizes its fleet of coiled tubing units to provide a range of services accomplishing a variety of goals including horizontal completions, well bore clean-outs and maintenance, nitrogen services, thru-tubing services, formation stimulation using acid and other chemicals, and other pre- and post-hydraulic fracturing well preparation services. The fluid logistics segment utilizes a fleet of fluid transport trucks and related assets, including specialized vacuum, high-pressure pump and tank trucks, frac tanks, water wells, salt-water disposal wells and facilities, and related equipment.