Acquisitions

12 Months Ended

Dec. 31, 2015

Acquisitions [Abstract]

Acquisitions

3.Acquisitions

In 2015 and 2014, Basic acquired either substantially all of the assets of each of the following businesses, each of which were accounted for using the purchase method of accounting. The following table summarizes the final values at the date of acquisition (in thousands):

	Closing Date		Total Cash Paid  (net of cash acquired)
Pioneer Fishing and Rental, Inc.	September 17, 2014	$	16,090
Total 2014		$	16,090
Harbor Resources, LLC	July 17, 2015	$	4,500
Aerion Rental, LLC	July 24, 2015		1,997
Grey Rock Pressure Pumping, LLC	August 31, 2015		10,233
Total 2015		$	16,730

In conjunction with the acquisition of Grey Rock Pressure Pumping, LLC, the Company financed a portion of the assets under capital leases subsequent to the purchase date. The Company received $8.8 million from the lessor, which is included as proceeds from debt on the Company’s Consolidated Statement of Cash Flows.

The operations of each of the acquisitions listed above are included in Basic’s statement of operations as of each respective closing date. The pro forma effect of the acquisitions completed in 2015, 2014 and 2013 are not material to the reported  results of operations, either individually or when aggregated. The provisional value used on Harbor Resources, LLC, Aerion Rental, LLC and GreyRock Pressure Pumping, LLC. will be finalized once the valuation of the tangible and intangible assets is complete.