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Nov 27, 2018Our Firm represents a seller (the “Client”) that seeks to sell its wireline and oilfield services business and all assets.

The Client is an oilfield service (OFS) company that provides wireline and other OFS services to oil and gas producers, exploration companies, drillers and other OFS providers involved in a wide range of energy activities. The original business was founded over 40 years ago and established itself as an OFS wireline leader in South Texas. Current Client owners acquired the business assets in late 2016 after the founder had discontinued operations and then the Client restarted the business.

The Client provides first quality wireline services using five (5) state of art trucks for wireline and slickline services at field locations to obtain downhole technical readings of the energy producing geologic formation. The Company holds master service agreements with over a dozen (12+) energy producer clients and also provides services to an additional twenty five energy clients. The Client also holds a substantial inventory of tools and equipment to meet client service needs. Further, the Client holds permits and licenses to operate explosive, neutron, gamma and radioactive AMBI 241 source units.

An integral part of the Client’s operating assets include four (4) wireline trucks and one (1) slickline truck that are loaded for infield services. The company has determined that these assets represent $1.2 million in current market value. In addition, there are five (5) pickup trucks, trailers, field equipment such as lubricators, along with a whole host of tools, parts and supplies. Total current value $2.5 million.

The Client partners seek to sell the assets and/or the business to a prospective buyer that is interested in the valued assets, client and vendor lists, trained professional employees and the established reputation and relationships held by the Company.

The Client capital partner seeks to divest and expand other business opportunities. The Client operating partner can/will remain with the business with key focus on commercial operations. The Client will consider an outright sale or other acquisition, on mutually beneficial terms. The Client has retained our Firm to assist with and advise on the sale/merger.

Please reach us for a CA-NCA to be executed and then followed by access to Dropbox.

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