Balyasny Discloses New Stakes in Basic Energy Services & Tetra Technologies ~ market folly

Friday, March 27, 2015

Balyasny Discloses New Stakes in Basic Energy Services & Tetra Technologies

Dmitry Balyasny's investment firm Balyasny Asset Management has filed two separate 13G's with the SEC.

New Stake in Basic Energy Services

First, Balyasny has revealed a brand new equity stake in Basic Energy Services (BAS).  Per their SEC filing, they now own 5.39% of the company with over 2.25 million shares.  The filing was made due to activity on March 18th.

Per Google Finance, Basic Energy Services is "provides a range of well site services to oil and natural gas drilling and producing companies, including completion and remedial services, fluid services, well servicing and contract drilling. The Company’s operations are managed regionally and are concentrated in the United States onshore oil and natural gas producing regions located in Texas, New Mexico, Oklahoma, Arkansas, Kansas, Louisiana, Wyoming, North Dakota, Colorado, Utah, Montana, West Virginia, Kentucky, Ohio and Pennsylvania. Its operations are focused on liquid rich basins that exhibit drilling and production economics as well as natural gas-focused shale plays characterized by prolific reserves and attractive economics."

New Position in Tetra Technologies

Second, the hedge fund firm has disclosed a new equity position in Tetra Technologies (TTI).  This 13G filing indicates they own 5.39% of the company with over 4.29 million shares of the company.   This was due to portfolio activity on March 18th.

Per Google Finance, Tetra Technologies is "is oil and gas services company, focused on completion fluids and other products, production testing, wellhead compression, and selected offshore services including well plugging and abandonment, decommissioning, and diving. The Company also has limited domestic oil and gas production business. The Company operates under five reporting segments organized into three divisions: Fluids, Production Enhancement, and Offshore. The Fluids Division manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry. The Production Enhancement Division consists of two operating segments: Production Testing and Compressor. The Production Testing segment provides after-frac flow back, production well testing, offshore rig cooling, and other associated services.."

You can view additional recent portfolio activity from Balyasny here.

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