Basic Energy Services (BASWQ) Form 3 BASIC ENERGY SERVICES / Derek Jeong ownership change

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Jeong Derek

(Last) (First) (Middle)

299 PARK AVENUE, 34TH FLOOR

(Street)

NEW YORK NY 10171

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/09/2020

3. Issuer Name and Ticker or Trading Symbol
BASIC ENERGY SERVICES, INC. [ BASX ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

Derek Jeong is a Principal of Ascribe Capital LLC ("Ascribe Capital"). Ascribe Capital is the investment manager of Ascribe III Investments LLC ("Fund III"). Fund III holds common stock, par value $0.01 and convertible Series A Preferred Stock, par value $0.01 per share, of the issuer (collectively, the "Issuer Stock"). American Securities LLC ("American Securities") is the 100% owner of Ascribe Capital. Each of Ascribe Capital and American Securities may be deemed to share beneficial ownership of the Issuer Stock held by Fund III. This report does not include any Issuer Stock held by Fund III or that may be deemed to be beneficially owned by Ascribe Capital or American Securities. Mr. Jeong disclaims beneficial ownership of the Issuer Stock held by Fund III, Ascribe Capital or American Securities, except to the extent of his pecuniary interests. Power of Attorney is attached hereto as Exhibit 24.

No securities are beneficially owned.

	/s/ David S. Schorlemer, Attorney-in-Fact	03/18/2020
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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