Details - Information last confirmed on October 11, 2020
Located in the Rocky-Mountain region (Colorado, Wyoming), they have a 10+ year history of service to multiple O&G customers, this business has continued to grow and make money. They have done this while building a solid reputation as the go-to team for exceptional execution at a fair price, in the ever-changing regional, North-American, and global O&G markets.
They have developed relationships key to getting the “inside track” to projects being considered or given the green light. They are also called on to take over projects that are in trouble. They do no advertising, and yet sales and profits continue to grow at a controlled pace.
History & team:
The founder built the business organically (no debt) from a single truck and a rented backhoe, to the key equipment, dedicated facilities, and most importantly, a team of mostly full-time, and some part-time staff. Together they offer the right mix of skills, attention to detail and a get ’er done attitude. As a result, he actually takes time off throughout the year and the business does not miss a beat. The entire team prides themselves on being on time and on budget, with a finished product that is second to none.
The business currently serves oil and gas exploration and production (E & P) companies looking to build, operate / optimize, maintain, and decommission well sites.
Many of the new O&G regulations have led to more service offerings and an INCREASE in demand for services at EXISTING well sites. They are actually turning work away.
From cutting in roads, to decommissioning wells and everything in between, they offer:
-Environmental and safety-compliance services
-On-site and off-site custom fabrication
-Well-site telemetry hardware installation and retrofits
-Oil and gas contract pumping
-Oil and gas well pressure testing
-24/7 emergency oilfield service
No down-hole services are currently offered.
-Founder started out as an oilfield worker, and has over two decades of experience.
-Master Service Agreements with all customers
-Long-term customer relationships with regionals to Fortune 500 E&P companies, through high-quality, consistent, and timely delivery of services
-Little to no money tied up in on-hand inventory, as most materials and supplies provided by the customers on a pre-paid basis.
-75 to 80% of their work is on a T&M basis. Very little competitive bidding.
- Beyond their core year-round employees, they have a bench of key part-time talent in the area they can call on as needed.
-Beyond the multi-million dollar list of late-model fixed assets included in the sale, they rent non-core equipment on an as-needed basis for optimal return on assets.
· High barriers to entry for new competitors as it takes years to build the team, equipment, connections and reputation needed to succeed.
· Many Customers have asked them to duplicate their current service offerings into other states.
· Convert under-utilized Master Service Agreements into new, recurring business such as:
water treatment / hauling, gas and oil hauling, and drilling / down-hole services.
· Newly passed laws require many current and new well-site upgrades
Disclaimer: DealStream has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness.