Document:

exv10w4

Exhibit 10.4

SIXTH SUPPLEMENTAL INDENTURE

to

INDENTURE

Dated as of April 12, 2006

among

BASIC ENERGY SERVICES, INC.

as Issuer,

The GUARANTORS named therein

and

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.

as Trustee

 

7.125% Senior Notes due 2016, Series A

7.125% Senior Notes due 2016, Series B

 

 

SIXTH SUPPLEMENTAL INDENTURE

     SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of December 22, 2010,
among Admiral Well Service, Inc., a Texas corporation (“Admiral”), Platinum Pressure
Services, Inc., a Texas corporation (“Platinum”), Taylor Industries, LLC, a Texas limited
liability company (together with Admiral and Platinum, the “New Guarantors”), each an
indirect subsidiary of Basic Energy Services, Inc. (or its successor), a Delaware corporation (the
“Issuer”), the Guarantors (the “Existing Guarantors”) under the Indenture referred
to below, and The Bank of New York Mellon Trust Company, N.A. (formerly The Bank of New York Trust
Company, N.A.), as trustee under the Indenture referred to below (the “Trustee”).

W I T N E S S E T H :

     WHEREAS the Issuer has heretofore executed and delivered to the Trustee an Indenture (as such
may be amended from time to time, the “Indenture”), dated as of April 12, 2006 providing
for the issuance of its 7.125% Senior Notes due 2016 (the “Notes”);

     WHEREAS under certain circumstances the Issuer is required to cause the New Guarantors to
execute and deliver to the Trustee a supplemental indenture pursuant to which each New Guarantor
shall unconditionally guarantee all of the Issuer’s obligations under the Notes pursuant to a Note
Guarantee on the terms and conditions set forth herein; and

     WHEREAS pursuant to Section 8.01 of the Indenture, the Trustee, the Issuer and the Existing
Guarantors are authorized to execute and deliver this Supplemental Indenture;

     NOW THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the New Guarantors, the Issuer, the
Existing Guarantors and the Trustee mutually covenant and agree for the equal and ratable benefit
of the Holders as follows:

     1. Definitions. (a) Capitalized terms used herein without definition have the
meanings assigned to them in the Indenture.

     (b) For all purposes of this Supplemental Indenture, except as otherwise herein expressly
provided or unless the context otherwise requires: (i) the terms and expressions used herein shall
have the same meanings as corresponding terms and expressions used in the Indenture; and (ii) the
words “herein,” “hereof” and “hereby” and other words of similar import used in this Supplemental
Indenture refer to this Supplemental Indenture as a whole and not to any particular section hereof.

     2. Agreement to Guarantee. Each New Guarantor hereby agrees, jointly and severally
with all Existing Guarantors, to guarantee the Issuer’s obligations under the Notes on the terms
and subject to the conditions set forth in Article 10 of the Indenture and to be bound by all other
applicable provisions of the Indenture. From and after the

 

 

date hereof, each New Guarantor will be a Guarantor for all purposes under the Indenture and
the Notes.

     3. Ratification of Indenture; Supplemental Indentures Part of Indenture. Except as
expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the
terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental
Indenture shall form a part of the Indenture for all purposes, and every Holder heretofore or
hereafter authenticated and delivered shall be bound hereby.

     4. Governing Law. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

     5. Trustee Makes No Representation. The Trustee shall not be responsible in any manner
whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for
or in respect of the recitals contained herein, all of which are made solely by the Issuer.

     6. Multiple Counterparts. The parties may sign multiple counterparts of this
Supplemental Indenture. Each signed counterpart shall be deemed an original, but all of them
together represent one and the same agreement.

     7. Headings. The headings of this Supplemental Indenture have been inserted for
convenience of reference only, are not to be considered a part hereof, and shall in no way modify
or restrict any of the terms or provisions hereof.

[Signatures on following pages]

2

 

     IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed as of the date and year first above written.

	 	 	 	 	 
	 	BASIC ENERGY SERVICES, INC.

 	 
	 	By:  	/s/ Kenneth V. Huseman
 	 
	 	 	Name:  	Kenneth V. Huseman 	 
	 	 	Title:  	President 	 
	 
	 	NEW GUARANTOR:

ADMIRAL WELL SERVICE, INC.

 	 
	 	By:  	/s/ Kenneth V. Huseman
 	 
	 	 	Name:  	Kenneth V. Huseman 	 
	 	 	Title:  	President 	 
	 
	 	PLATINUM PRESSURE SERVICES, INC.

 	 
	 	By:  	/s/ Kenneth V. Huseman
 	 
	 	 	Name:  	Kenneth V. Huseman 	 
	 	 	Title:  	President 	 
	 
	 	TAYLOR INDUSTRIES, LLC

 	 
	 	By:  	/s/ Kenneth V. Huseman
 	 
	 	 	Name:  	Kenneth V. Huseman 	 
	 	 	Title:  	President 	 
	 

Signature Page to Sixth Supplemental Indenture

 

 

	 	 	 	 	 
	 	EXISTING GUARANTORS:

ACID SERVICES, LLC

BASIC ENERGY SERVICES GP, LLC

 	 
	 	By:  	BASIC ENERGY SERVICES, INC., its sole Member
 	 
	 
	 	BASIC ENERGY SERVICES, L.P.

 	 
	 	By:  	BASIC ENERGY SERVICES GP, LLC, its General Partner
 	 
	 
	 	By:  	                                                      BASIC ENERGY SERVICES, INC., its sole Member
 	 
	 
	 	BASIC ESA, INC.

BASIC MARINE SERVICES, INC.

CHAPARRAL SERVICE, INC.

FIRST ENERGY SERVICES COMPANY

GLOBE WELL SERVICE, INC.

HENNESSEY RENTAL TOOLS, INC.

JETSTAR ENERGY SERVICES, INC.

JETSTAR HOLDINGS, INC.

JS ACQUISITION LLC

LEBUS OIL FIELD SERVICE CO.

OILWELL FRACTURING SERVICES, INC.

PERMIAN PLAZA, LLC

SCH DISPOSAL, L.L.C.

SLEDGE DRILLING CORP.

WILDHORSE SERVICES, INC.

XTERRA FISHING & RENTAL TOOLS CO.

 	 
	 	By:  	/s/ Kenneth V. Huseman
 	 
	 	 	Name:  	Kenneth V. Huseman 	 
	 	 	Title:  	President 	 
	 

Signature Page to Sixth Supplemental Indenture

 

 

	 	 	 	 	 
	 	BASIC ENERGY SERVICES LP, LLC

 	 
	 	By:  	/s/ Jerry Tufly
 	 
	 	 	Name:  	Jerry Tufly 	 
	 	 	Title:  	President 	 
	 

Signature Page to Sixth Supplemental Indenture

 

 

	 	 	 	 	 
	 	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as
Trustee

 	 
	 	By:  	/s/ Julie Hoffman-Ramos
 	 
	 	 	Name:  	Julie Hoffman-Ramos 	 
	 	 	Title:  	Senior Associate 	 
	 

Signature Page to Sixth Supplemental Indentureexv10w5

Exhibit 10.5

     This SUPPLEMENT NO. 1 dated as of December 22, 2010 (this “Supplement”), is delivered
in connection with (a) the Security Agreement dated as of September 28, 2010 (as amended or
otherwise modified from time to time, the “Security Agreement”), among Basic Energy
Services, Inc., a Delaware corporation (the “Borrower”), certain subsidiaries of the
Borrower (such subsidiaries together with the Borrower, the “Debtors”) and Capital One,
National Association (“Capital One”), as Collateral Agent (in such capacity, the
“Collateral Agent”) for the benefit of the holders of the Secured Obligations (as defined
therein) and (b) Article VII of the Credit Agreement (as defined below) (the “Guarantee”).

     A Reference is made to the Credit Agreement dated as of September 28, 2010 (as amended or
otherwise modified from time to time, the “Credit Agreement”), among the Borrower, the
lenders from time to time party thereto (the “Lenders”), the Collateral Agent and others.
Pursuant to the Guarantee, the Guarantors have agreed to guarantee, among other things, the full
payment and performance of all of the Borrower’s obligations under the Credit Agreement.

     B. The Debtors have entered into the Security Agreement and the Guarantors have entered into
the Guarantee as a condition precedent to the effectiveness of the Credit Agreement. Section
7.12 of the Security Agreement and Section 5.10 of the Credit Agreement provide that additional
Subsidiaries of the Borrower may become Debtors under the Security Agreement and Guarantors under
the Guarantee by execution and delivery of an instrument in the form of this Supplement. Each
undersigned Subsidiary (each a “New Debtor” and collectively, the “New Debtors”) is
executing this Supplement in accordance with the requirements of the Credit Agreement to become a
Debtor under the Security Agreement and a Guarantor under the Guarantee.

     C. Capitalized terms used herein and not otherwise defined herein shall have the meanings
assigned to such terms in the Security Agreement, the Guarantee, and the Credit Agreement.

          Accordingly, the Collateral Agent and each New Debtor agree as follows:

     SECTION 1. In accordance with Section 7.12 of the Security Agreement and Section 5.10
of the Credit Agreement, each New Debtor by its signature below becomes a Debtor under the Security
Agreement with the same force and effect as if originally named therein as a Debtor, and each New
Debtor hereby (a) agrees to all the terms and provisions of the Security Agreement applicable to it
as a Debtor thereunder and (b) represents and warrants that the representations and warranties made
by it as a Debtor thereunder are true and correct in all material respects on and as of the date
hereof. The Schedules to the Security Agreement are hereby supplemented by the Schedules attached
hereto with respect to each New Debtor. In furtherance of the foregoing, each New Debtor, as
security for the payment and performance in full of the Secured Obligations (as defined in the
Security Agreement), does hereby create and grant to the Collateral Agent, for the benefit of the
holders of the Secured Obligations, a security interest in and lien on all of such New Debtor’s
right, title and interest in and to the Collateral of such New Debtor. Each reference to a
“Debtor” in the Security Agreement shall be deemed to include the New Debtors.

 

 

     SECTION 2. In accordance with Section 5.10 of the Credit Agreement, each New Debtor by its
signature below becomes a Guarantor under the Guarantee with the same force and effect as if
originally named therein as a Guarantor, and each New Debtor hereby (a) agrees to all the terms and
provisions of the Guarantee applicable to it as a Guarantor thereunder and (b) represents and
warrants that the representations and warranties made by it as a Guarantor thereunder are true and
correct on and as of the date hereof. Each reference to a “Guarantor” in the Guarantee shall be
deemed to include the New Debtors.

     SECTION 3. Each New Debtor represents and warrants to the Collateral Agent that this
Supplement has been duly authorized, executed and delivered by it and constitutes its legal, valid
and binding obligation, enforceable against it in accordance with its terms.

     SECTION 4. This Supplement may be executed by one or more of the parties to this Agreement on
any number of separate counterparts (including by telecopy), and all of said counterparts taken
together shall be deemed to constitute one and the same instrument.

     SECTION 5. Except as expressly supplemented hereby, the Security Agreement and the Guarantee
shall remain in full force and effect.

     SECTION 6. THIS SUPPLEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF
THE STATE OF TEXAS, WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THAT WOULD REQUIRE THE
APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.

     SECTION 7. All communications and notices to the New Debtors under the Security Agreement or
the Guarantee shall be in writing and given as provided in Section 7.2 of the Security
Agreement to the addresses for the New Debtors set forth under their signatures below.

     SECTION 8. Each New Debtor agrees to reimburse the Collateral Agent for its reasonable
out-of-pocket expenses in connection with this Supplement, including the reasonable fees, other
charges and disbursements of counsel for the Collateral Agent.

 

 

     IN WITNESS WHEREOF, the New Debtors and the Collateral Agent have duly executed this
Supplement to the Security Agreement as of the day and year first above written.

	 	 	 	 	 
	 	NEW DEBTOR:

ADMIRAL WELL SERVICE, INC.

 	 
	 	By:  	/s/ Kenneth V. Huseman
 	 
	 	 	Name:  	Kenneth V. Huseman 	 
	 	 	Title:  	President
 	 
	 	 	Address:  	500 W. Illinois
Midland, TX 79701 	 
	 
	 	PLATINUM PRESSURE SERVICES, INC.

 	 
	 	By:  	/s/ Kenneth V. Huseman
 	 
	 	 	Name:  	Kenneth V. Huseman 	 
	 	 	Title:  	President
 	 
	 	 	Address:  	500 W. Illinois
Midland, TX 79701 	 
	 

Signature Page to Supplement to Credit Agreement

 

 

	 	 	 	 	 	 	 	 	 

	 	 	CAPITAL ONE,
NATIONAL ASSOCIATION,
as Collateral Agent	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Bobby Hamilton	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:
	 	Bobby Hamilton	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:
	 	Assistant Vice President	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Address:
	 	5718 Westheimer, Suite 600	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Houston, TX 77057	 	 
	 

	 	 	 	 	 	 	 	 

Signature Page to Supplement to Credit Agreement

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