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Oilfield Services Company in Louisiana and Texas

Kilgore, TX (Gregg County)

Seller Financing Available
Oilfield Services Company in Louisiana and Texas
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Asking Price: N/A

Cash Flow: $2,600,000

Gross Revenue: $11,500,000

EBITDA: $2,300,000

FF&E: $4,000,000

Inventory: N/A

Real Estate: N/A

Established: 2011

Oilfield Services Company in Louisiana and Texas

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Business Description

Project Haynesville is a Louisiana-based an Oilfield Service and Rental company providing Hydrostatic Inspections/Testing, Torque Wrenches, Completions, Facility Maintenance, Roustabout services, Pump and Gap Vacuum trucks, Environmental, Rentals (Lighting Plants, Pipe Racks 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.

• 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.

Detailed Information

Location:
Kilgore, TX
Real Estate:
Owned
Building SF:
N/A
Employees:
100
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Competition:
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 & Expansion:
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.
Financing:
Possible
Support & Training:
Ownership is willing to stay on board for a transition period in the event of a full sale, and would be open to a majority recap as well. Thereby, staying on for 3-4 years for a "second bite of the apple".
Reason for Selling:
The exiting owners simply wish to pursue other endeavors at this time.
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Great Plains Capital Partners GPCP

Business Listed By:
Rex Reinhardt

Great Plains Capital Partners

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