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BRIEF-Basic Energy Services announces progress made in discussions with creditors

Oct 17 Basic Energy Services Inc :

* Basic Energy Services announces substantial progress made in discussions with creditors

* Basic Energy Services Inc - Company has received a one-day extension of temporary waiver with its secured asset-based revolver lenders

* Basic Energy - Reached agreement with holders of over 81% of 2019 notes to extend forbearance extension period by eight days, through Oct 24

* Basic Energy Services Inc - Parties have agreed to further extend previously announced forbearance agreement and waivers

* Basic Energy Services Inc - October 15, 2016 interest payment on 7.75% senior notes due 2022 has not been paid

* Basic Energy Services- Co, secured lenders, certain of its unsecured bondholders agreed to further extend forbearance agreement and waivers

* Basic Energy Services Inc- Expects to have, adequate liquidity to continue its operations in ordinary course Source text for Eikon: Further company coverage:

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