Basic Energy’s layoffs to increase

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The number of jobs that might be cut as a result of Basic Energy Services, Inc.’s Chapter 11 bankruptcy now is thought to be as many as 1,400 employees.

The number was originally lower but in an advisory, the Fort Worth-based company indicated a much larger number. It could include 775 in Bakersfield, California, 375 in Texas and 75 workers in Artesia, New Mexico.

Among the Texas job cuts are an estimated 120 workers at the company’s Burnett Plaza office headquarters. The Fort Worth Star-Telegram reported the updated information after Basic Energy filed a report required by the federal Worker Adjustment and Retraining Act. The paper indicated the layoffs could come in mid or late October.

The Chapter 11 bankruptcy was filed Aug. 17 in Texas. Basic Energy also indicated it had entered into asset purchase agreements with Berry Corporation, Axis Energy Services Holdings, LLC and Select Energy Services, Inc.

Source: Fort Worth Star-Telegram

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