Wednesday, August 5, 2026
Basic Energy Services Announces Divestment and Capital Redeployment Plan - oilandgas360

Basic Energy Services announces divestment and capital redeployment plan

Business Wire –  Given current market conditions, the Company believes it is appropriate to pivot away from completion-centric pumping services and toward its core production businesses Basic Energy Services, Inc. (OTCQX: BASX)  today announced a plan to divest of its pumping services assets (not inclusive of coiled tubing) in multiple transactions with expected proceeds of approximately $30 to $45 million.

Commodities Declined on Loosening Supply Fundamentals - oilandgas360

Commodities declined on loosening supply fundamentals

PRNewswire Commodities declined on loosening supply fundamentals and improving risk appetite for gold. Energy is affected. Credit Suisse Asset Management observed the following: Industrial Metals declined 4.90%, led lower by Nickel, after both the London Metal Exchange and Shanghai Futures Exchange reported higher inventory levels for the month of October. Precious Metals decreased 3.80% on improved risk appetite following positive