July 22, 2009 (FinancialWire) — Basic Energy Services, Inc. (NYSE: BAS) has launched a private placement offering of up to $225 million of senior secured notes due 2014. The notes are being offered inside the United States to institutional buyers.

The company plans to use the net proceeds from the proposed offering, together with cash on hand if necessary, to repay all outstanding indebtedness under its revolving credit facility.

Midland, Texas-based Basic Energy Services provides a range of services to American oil and gas producers, including drilling, production and well abandonment.

The company’s operations cover domestic onshore production in South Texas, the Texas Gulf Coast, the Ark-La-Tex region, North Texas, the Permian Basin of West Texas, the Mid Continent, Louisiana Inland Waters and the Rocky Mountains.

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