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Realistic price on business (seeking 3-4x on Adj. EBITDA), one of two owners seeking retirement. The CEO can stay on board for transition period as long as needed. The company was only down 13% in 2020 while many of its peers were down 30%+. 2021could be best month ever, and is now back to pre-Covid financial levels through April, and growing quickly to start the year as Oil prices are climbing in 2021.

Project TexLa is a Texas and Louisiana-based Oilfield Service and Rental company with 3 locations in the Permian, Eagleford and Haynesville. The company is providing Hydrostatic Inspections/Testing, Torque Wrenches, Completions, Facility Maintenance, Roustabout services, Pump and Gap Vac trucks, Environmental, Rentals (Light Plants, Transfer Pumps), High Pressure Grease Unit, Stack Lift, Chemical Treatments, Cooler Replacements, and other services. The company predominantly focuses on the Haynesville shale play in East Texas and NW Louisiana, but has a yard/presence in the Permian of West Texas and Eagleford of South Texas as well. The ownership is open to an outright sale or majority purchase. The company is able to protect on the downside of Oil prices given plenty of Work-over and Production-related business.
Business Highlights:
• Commodity Prices: The company remained very profitable through one of the worst of Oil & Gas price climates in recent history (2015-2017) to its strong customer base, relationships and type of (production-related / work-over) services.
• Competitive Advantages: The company has taken pride in growing through an excellent reputation and service delivery. Much of the service work is required or driven by mandatory regulations, thereby increasing the need for operators to use the Company’s services and heightens barriers to entry. Also, the company has evolved with environmental concerns in their way of performing services. Diversification into completions, production, equipment rental, facility maintenance/repair, equipment brokering has led the company to become spread over multiple facets of the industry.
• Market Channels: The company’s customers are E&P / operating companies. The company has MSAs with major E&P companies versus focusing on independent players, a “who’s who” of the Texas and Louisiana Oil & Gas market.
• Growth Opportunities: Management believes that a continuing understanding and fulfillment of the industry and client needs are critical for growth and success. Regional expansion and focus, as well diversification into other service areas of completions, production, equipment rental, facility maintenance/repair are paramount value for further growth as well. Key to success and growth is surrounding yourself with good qualified personnel who give concrete benchmarks.
• Management/Personnel: Just under 100 employees, spread throughout the Haynesville, Permian and Eagleford. General Manager & Field Superintendents have managed the key components of the operation with zero growth impacted if the owners stepped away. The aforementioned would help with continued operations and growth of the company, as this was the initial goal upon conception.
• Financials: The company was resilient in the toughest “downcycle” in decades due to talented management, service lines, customer base, locations and reputation. 2020 only saw revenues down 13% which was resilient for the industry. 2021 so far looks to be a potential record year.

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