Berry corporation (bry) announces entry into “stalking horse” asset purchase agreement to acquire california assets of basic energy services

Dallas, aug. 17, 2021 (globe newswire) -- berry corporation (bry) (nasdaq: bry) (“bry” or the “company”) today announced that it has entered into an asset purchase agreement (“apa”) as a “stalking horse” bidder to acquire substantially all the assets comprising basic energy services' (“basic”) california business lines in connection with basic's bankruptcy proceeding filed today. specifically, under the terms of the apa, bry would acquire basic's well servicing, specialized completion and remedial services, and water logistics services businesses in california. much of basic's california business today is known as c&j well services and was originally established in san angelo, texas, in 1948 by frank pool as pool well services.
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