Fishing & Rental Tools - Permian Basin

ACQUISITION OPPORTUNITY

Oilfield Services – Fishing & Rental Tools - Permian Basin

Overview: 2022TTM Revenue of $22.2M & ADJ EBITDA of $10.5 million (47.1% EBITDA Margin)

The Acquisition Opportunity: This privately-owned Company provides fishing services, rental tools, and various other upstream services to top tier, blue chip operators across the Permian Basin. The Company’s fleet includes over 40 service vehicles, 4 tractor-trailer combinations, Complete Line of Fishing Tools, 5K Reverse Units, 15K Quinplex Pumps, 2.5, 3.5, XK-90 and XK-100 Power Swivels, Sandcats, Hydraulic & Manual Blowout Preventers, Flowback Tanks, Laydown Machines, and other various rentals. The Company’s business model is scalable within its geographic region in the Permian Basin, as well as other areas like the Haynesville Shale, STACK/SCOOP of Oklahoma, or even the Eagle Ford Shale. This established platform could also be expanded by adding complementary services & well servicing business lines across its large MSA list. The Company has established a solid reputation and is known for its quality of service across the Company’s footprint with repeat clients. The Principals have an extensive track record of success across the oilfield services space and energy value chain, with a strong record of growing service businesses that continue to thrive in any environment. The Company had a Large Equipment Purchase of rental equipment in January 2023 to meet the growing demand for the Company’s largest client.

Financial Performance : The 2023 forecast is projected to have a strong increase in earnings given steady increases of day rates, client retention, and a sizable equipment acquisition in early 2023. The newly acquired assets will be put to work immediately for new customers in the Company’s growing footprint and growing demand by the Company’s client base. The Company continues to grow its monthly revenue in a debt free environment.

Industry Outlook: Industry forecasts believe that the industry will see a strong recovery over the next five to seven year fairway. Company is poised to be in a great position with more rigs coming online each month and the growing demand for future P&A and remedial work and continued completion/production work.

Company Strengths: Strong management team, close customer relationships, excellent reputation, and steady workflow has been established for the remainder of 2023 with a well thought out growth strategy through 2024. Well-maintained equipment, outstanding workforce with exceptional capabilities, ample capacity to grow footprint, very strong financial performance.

If you would like to receive more information about this Company, please call or return the attached Confidentiality Agreement so that we may send you the CIM, financial statements and prepared summary of the opportunity.

Quality of Earnings Report available upon signing release.