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BRIEF-Basic Energy enters a forbearance agreement with over 81% of holders of 7.75% senior notes

Sept 14 Basic Energy Services Inc :

* Basic Energy Services enters into forbearance agreement and obtains waivers to continue deleveraging negotiations with secured lenders and unsecured bondholders

* Entered into a forbearance agreement with over 81% of holders of 7.75% senior notes due 2019

* Has elected not to make interest payment upon expiration of 30-day grace period

* Forbearance agreement with respect to 30-day grace period related to an $18.4 million payment of interest under 2019 notes

* Continues to believe that it has ample liquidity at this time to continue uninterrupted operations in ordinary course

* Company's secured lenders have agreed to provide temporary waivers of some existing and future defaults under term loan Source text for Eikon: Further company coverage:

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