Midland-based Basic Energy Services, a contract drilling and well-servicing company with more than 5,700 employees around the country, said last week it will move its corporate headquarters to Fort Worth. "Fort Worth provides a broader pool of experienced potential employees in the areas of human resources, accounting, finance and information technology," CEO Ken Huseman said in a prepared release. "While we will retain a significant operating presence with more than 30 service points and 2,300 employees in the Permian Basin, the move of our corporate headquarters to Fort Worth will facilitate the future growth and expansion of our company." It expects to complete the move by year's end.
Basic Energy Services (ticker: BAS) last year earned $47.2 million on revenues of $1.2 billion. It earned $19.6 million in 2011's first quarter on revenues of $371 million.
-- Jim Fuquay