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BASIC ENERGY SERVICES JOINS OFS PORTAL


HOUSTON, TEXAS —OFS Portal announced today that Basic Energy Services (OTCQX: BASX) has joined the organization as a supplier subscriber member. Basic Energy joins current OFS Portal members which include Baker Hughes, Halliburton, Schlumberger Oilfield Services, Select Energy Services, Total Safety U.S., Weatherford International, and Wellbore Integrity Solutions.

Basic Energy provides more than 2,000 oil and gas companies with a comprehensive range of well site services that support the entire lifecycle of a well in the major onshore oil and gas producing regions in the United States. With operations spanning across six geomarkets, it was important for the Texas-based service provider to find a streamlined way to manage all of their customer price books electronically.

“We were looking for a way to modernize and manage our current catalog process which is still very manual,” said Doug Dunlap, Basic Energy Services Director of Credit-to-Cash & Treasury Operations. “The OFS Portal Catalog tool provides us a systematic way of publishing price books.”

As an OFS Portal Catalog user, Basic Energy can now publish price book line-items along with contractual pricing specific to each customer in just one format. The price book format remains the same irrespective of the number of customers, providing Basic Energy with more operational consistency and streamlined operations.

 “OFS Portal has a unique position in the oil and gas industry in that we are a body created by suppliers for suppliers with the common goal of increasing operational consistency and efficiency for both supplier and buyers,” said Chris Welsh, OFS Portal CEO. “Fundamental to this is our legal agreements which enables a standard way of implementing eCommerce utilizing royalty free and open industry standards in addition to providing data protection, governance and ownership.”

Basic Energy will now be a part of the large OFS Portal community comprised of eight of the most globally diverse oilfield service companies, over 400 oil and gas operators and more than 45 eCommerce networks; each operator and network have an OFS Portal agreement in place. 

“Now a part of the OFS Portal community, we benefit from all of the existing legal agreements,” said Dunlap. “We can now rest easy knowing our data and commercial trade secrets are protected.”

About Basic Energy Services

With headquarters in Fort Worth, Texas, Basic Energy Services conducts operations in the Texas Gulf Coast region, the Central region, the Permian Basin of West Texas, California and the Rocky Mountains. Basic Energy's regional expertise and responsiveness helps keep production flow safe and efficient regardless of the challenge, complexity or phase in the well lifecycle.

About OFS Portal

Based in Houston, Texas, OFS Portal, LLC is a member-based group of industry-leading upstream oil and gas suppliers and service providers. Membership to OFS Portal is open to any supplier operating in oil and gas. For more information about an OFS Portal membership or Catalog services, please contact info@ofs-portal.com.



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