Details

DESCRIPTION:
The company is a servicer of drilling and completions oil rigs.

KEY ASPECTS:
• Leading choice in the Permian Basin for casing and tubular running services
• Highly skilled field hands are cross trained to provide the best services in the industry
• Strong management with years of experience and tenured relationships with industry leaders
• As of Q3 2020, newly signed contract with a leading production business
• Company-owned equipment is maintained at the highest level for maximum efficiency
• Operates with H2S certification to ensure safety of its employees and all API standards

OPPORTUNITIES:
• Expansion of sales team to support the market fluctuations from external threats such as the ongoing COVID-19 pandemic’s impact on industry oil prices
• Capitalize on increasing rig count projected for 2021 by company’s client base
• Further development of target client base by marketing the company’s packaged and discounted services to oil and gas businesses across the current geographic market

MARKET CURRENTLY SERVED:
• The company serves the upstream oil and gas market, specifically, drilling rigs located across the Permian Basin.

HEADQUARTERED:
• Midland, Texas

REAL ESTATE:
• The company operates from a 7,750 square-foot, company owned facility that includes housing, office space, and storage space. Purchase or lease of the facility is negotiable at the time of a sale.

SHAREHOLDER OBJECTIVES:
• Ownership is seeking a strategic acquirer to grow the company to its full potential and are open to various deal structures in order to facilitate a transaction.

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Disclaimer: DealStream has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness. This listing does not constitute an offer to sell, solicit or make an offer to buy an investment interest. Offers to sell, or the solicitation of offers to buy, any security can only be made through official offering documents, such as a subscription agreement and private placement memorandum.