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Sep 19, 2019Operating from our headquarters near the Permian Basin, we are a specialty trade contractor specializing in oilfield electrification and automation services for many of the leading independent exploration and production companies. Our primary services include constructing power lines, electrifying pumping units, installing electric motors, troubleshooting, automation and sheave and hub belt services. In early 2019, the Permian Basin starting producing 4.2 million barrels per day of crude oil making it the world’s top oil producer. We strongly believe that our industry is going through a transformation brought on by the shale revolution and the recent down-cycle. The industry has removed substantial costs from the system and introduced significant efficiencies and many of our customers in the Permian Basin appear to have shifted their strategy from production growth to operating within cash flow constraints and generating returns. We have a proven track record supported by 42 years of ongoing business and 62 personnel. We believe our reputation for responsiveness and quality work, local presence, safety leadership and financial strength have resulted in strong relationships with numerous customers and have positioned us to take advantage of future opportunities. For the year ended June 30, 2019 the Company’s total revenue was $15.8 million with seller’s discretionary earnings of $2.3 million. During the past five years, a period that includes the recent down-cycle in 2016, seller’s discretionary earnings as a percentage of revenue have been as low as 12% and as high as 19% and has averaged 16%.

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