Blackeagle Energy Services, a leading provider of energy-related construction and maintenance services, announced today it has acquired certain Permian Basin assets from Brazos Rock, Inc., a leading provider of oil & gas construction services in Texas.
"The transaction announced today increases our footprint and strengthens our existing Texas operations. What's more, it allows us to better serve our existing customers and puts us at the epicenter of the nation's largest oil producing region," said Rick Barrett, Blackeagle's president and CEO.
Brazos Rock, based in Weatherford Texas, is a well-established contractor with a solid reputation for quality and safety. "I have known Rick and Blackeagle for a long time and have appreciated the similarities between our two businesses. When it came time for us to consider strategic alternatives, I knew there would be no one better to work with than Blackeagle," said Chad Chester, CEO of Brazos Rock.
The terms of the deal remain private except for the public announcement that Blackeagle will employee Brazos Rock's former employees and occupy the company's building and yard in Midland, Texas.
"By establishing a leading presence in the region, at what is widely considered the bottom of the cycle, Blackeagle is well positioned for future growth," Barrett added.