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- RE: North Dakota Oilfield Services Co. With IP
- Contact: Matt Salamat
Quick Facts
| Asking Price: | $1,500,000 | |
| Annual Revenue: | $2,000,000 | |
| Net Profit: | $500 | |
| Cash Flow: | $750,000 | |
| Total Debt: | Not Disclosed | |
| FF&E: | 1,900,000 | |
| Real Estate: | Not Disclosed | |
| Year Established: | 2010 | |
| Employees: | 15 | |
| BBN Listing #: | 727341672 | |
| Broker Reference #: | Not Disclosed |
Business Overview:
Project Dakota is an oilfield service company that focuses on recycling flowback and produced water as required for coiled tubing plug drill/clean out operations. Their solutions include water recycling, oil recovery, reporting, water testing, chemicals, and mixing plant services. Major customers include XTO and ConocoPhillips. The company is located in North Dakota in the Bakken.
Business Highlights:
Market Channels: The company works with E&P majors predominantly and also some oilfield service companies.
Company Growth: Management sees growth opportunities in converting their entire fleet to self-cleaning amiad systems, increasing sales team to multiple regions, and adding a sales team with relationships direct to Coil Tubing Operations.
Competitive Advantage: The company is a market leader and is well placed to capitalize on the Bakken shale due to its geographical placement. Few competitors are in the region they currently serve and none of them have the separation technology. The company being a market leader, has an excellent reputation and provides impeccable service to customers and excellent relationship with all vendors.
Management: Current ownership would stay on to help as needed for a transition period. There are essentially “General Managers” over the office which would be intact going forward for new ownership.
Industry Growth: Demand for the Oil & Gas industry has been very high of late, with commodity prices returning to levels not seen since 2014. The global oilfield services market size was $267.82 billion in 2019 and is projected to reach $346.45 billion by 2027, exhibiting a CAGR of 6.6%
Financials: Strong asset base and excellent candidate for financing. The company was resilient during the 2020 “COVID year” and is expected to grow 50% this year. 2020-2021 saw some customer slowdown which is starting to pick up in 2022. Revenue could exceed $3m this year, but management currently projects $2.5m to be conservative. Management has “pivoted” to be more focused and profitable during this downturn increasing margins as a result.
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Property Features and Assets:
Leases a 3,200 square feet facility.
Reason for Selling:
Other Opportunities.
Additional Details:
- The property is Leased.
- This is not homebased business opportunity.
- This is not a franchise resale opportunity
Documents:
Relevant Links:
- View more North Dakota businesses for sale
- View more Businesses For Sale in the same industry
- Sell a business online
- Find a business broker
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