Oilfield Services Company in Texas and Louisiana

Kilgore, TX
Gregg County

Texas


Asking Price: Annual Revenue:
$10,000,000 $11,000,000

Manufacturing: Energy, Oil, Petroleum, Gas Production


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RE: Oilfield Services Company in Texas and Louisiana Broker: Rex Reinhardt
Owner Financing is Available!
Open to if needed.

Quick Facts

Asking Price: $10,000,000
Annual Revenue: $11,000,000
Net Profit: $2,000,000
Cash Flow: $2,000,000
Total Debt: $430,000
FF&E: $4,000,000
Real Estate: $1,000,000
Year Established: 2011
Employees: 100
BBN Listing #: 363241672
Broker Reference #: Not Disclosed

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Business Overview:

Project TexLa is a Texas and Louisiana-based an Oilfield Service and Rental company with 3 locations in the Permian, Eagleford and Haynesville. The company is 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 locations in the Permian of West Texas (fastest-growing location) 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 as their Work-over and Production-related services are growing annually.

• 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.

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Property Features and Assets:

HQ office: Owned. It’s an approximately one acre lot with the building containing office space (appx 600 square feet) and shop/storage area (approximately 3,500 square feet), yard space for equipment, and one mobile home for accommodations. Then two leased spaces in Texas for the other locations.

Market Competition and Expansion:

See above summary.

Reason for Selling:

Other endeavors.

Additional Details:

  • The property is owned.
  • The owner is not willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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