Basic Energy Services leader to step down


The Fort Worth energy company, Basic Energy Services, Inc. announced its president and CEO, T.M. “Roe” Patterson plans to leave the company in pursuit of other business opportunities.

Basic Energy Services has operations in Oklahoma, Colorado, Texas, New Mexico, Arkansas, Kansas, Louisiana, Wyoming, North Dakota and California.

The Company has begun an executive search for a new Chief Executive Officer. Patterson will continue to serve as President and Chief Executive Officer of Basic, and as a member of the Board, while the Company conducts a search for his successor, and will remain with Basic in an advisory capacity for a period of time after his replacement is chosen to facilitate an orderly transition. Once his successor is chosen, Patterson will resign from his position on the Board as well. He has been with the company for 14 years.

Additionally, the Company announced that Julio Quintana, a current independent director of the Company, will take on the additional role of Chairman of the Board, effective September 13, 2019. Mr. Quintana became a member of the Board in 2016. Timothy Day, who has served as a member of the Board and Chairman since 2016, will continue to serve as a director of the Company and as chair of the Compensation Committee of the Board.

Basic Energy Services provides well site services essential to maintaining production from the oil and gas wells within its operating areas.