Hot Listing
Well Logging Company - Oil & Gas Industry
Business Description
The company specializes in providing both open-hole and cased-hole services, essential to the drilling, completion, production, and plugging of oil and gas wells. The company has been serving the Midwest oil & gas fields for over 46 years. With over 20,000 logs in their library and many years of personal field experience in this area, quality logging and log analysis have become their forte. Besides resistivity and porosity logging the goal of the company is to assist local producers with the challenging task of receiving excellent well analysis while maintaining proprietary information between clients. The new owner acquired the company in 20243. Due to corporate re-alignmentrealignment and a new strategic direction the company has decided to sell the business and real estate.
The company's services are currently supplied directly to clients in the Oil & Gas industry. The full capabilities and marketing of services have not been reached, offering a potential investor/company an opportunity to expand the market for its services, as well as,as well as introduce services to a wider range of clients.
The well-trained employees are expected to remain with the business. With over $6.08 Million in assets comprised primarily of Accounts Receivables ($280,336), FF&E ($2.6M), vehicles ($1.9M) and real estate valued at $800,000 satisfying lender/investor collateral requirements will be easier to accomplish in thee current business environment. This opportunity would be a great fit for a complimentary synergistic/strategic business or investor with a vision to move the company forward ing the expanding oil & gas industry.
The Gross Sales and Cash flow shown above is a 3 year weighted average.
The company's services are currently supplied directly to clients in the Oil & Gas industry. The full capabilities and marketing of services have not been reached, offering a potential investor/company an opportunity to expand the market for its services, as well as,as well as introduce services to a wider range of clients.
The well-trained employees are expected to remain with the business. With over $6.08 Million in assets comprised primarily of Accounts Receivables ($280,336), FF&E ($2.6M), vehicles ($1.9M) and real estate valued at $800,000 satisfying lender/investor collateral requirements will be easier to accomplish in thee current business environment. This opportunity would be a great fit for a complimentary synergistic/strategic business or investor with a vision to move the company forward ing the expanding oil & gas industry.
The Gross Sales and Cash flow shown above is a 3 year weighted average.
About the Business
- Years in Operation
- 47
- Number of Employees
- 11
- Currently Relocatable
- Yes
- Facilities & Assets
- The equipment list includes logging and perforating trucks, downhole tools, miscellaneous tools, and the explosive magazine stored offsite.
- Market Outlook / Competition
- Competition is limited but well established. The Company brings extensive experience in the areas where it offers services. Additionally, its downhole tools have been upgraded to the latest digital tool strings and they offer highly competitive pricing, with equipment that surpasses that of independent wireline competitors.
- Opportunities for Growth
- • Add experienced personnel to target deeper markets outside Oklahoma, leveraging existing industry contacts.
• Retrofit mast units for logging and pipe recovery purposes.
• Expand sales efforts into deeper markets.
• Promote cased-hole bond logging for deep wells.
• Explore opportunities in the plugging market, including projects under the Infrastructure and Jobs Bill of 2022.
• Form strategic alliances with other Mid-Continent producers to secure future wireline opportunities.
• Offer wireline services and support to local producers.
Real Estate
- Owned or Leased
- Owned
- Included in asking price
- Building Sq. Ft.
- 8,960
About the Sale
- Seller Motivation
- The owner has contracted a terminal disease and wants to have a quick sale.
- Transition Support
- As needed
Listing Info
- ID
- 2347913
- Listing Views
- 1663
Listing ID: 2347913 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.
Businesses for SaleOklahoma Businesses for SaleOklahoma Business Service Businesses for SaleOklahoma Other Business Services Businesses for Sale