Oilfield-service: Est. '24 Rev$13M, EBITDA=$2.25M,FCF $2M,SDE $650K
| Asking Price: | $7,500,000 |
| Gross Revenue: | $13,000,000 |
| EBITDA: | $1,430,000 |
| Real Estate: | $2,500,000 |
| Cash Flow: | $2,000,000 |
| Inventory: | $25,000 |
| FF&E: | $3,500,000 |
| Established Year: | 2004 |
***Currently bidding millions in NEW P&A work in CO, MT, WY
Asking price based on CY 2023 trailing 12-month financials (P&Ls and Bal sheets). Price to be adjusted based on the trailing 12-month performance as of the month before the close month.
95% of revenue is T&M
A great sports team, like a great business, wins year in and year out by anticipating and adjusting to whatever the competition, E&P customers, or the O&G market throws at them.
Over their 20+year history of service w 45+ MSAs, this business has grown and made money every year. They have done this while building a solid reputation as the go-to team for exceptional execution at a fair price, in the ever-changing regional, North-American, and global O&G markets.
Key employees have developed trust-based personal relationships with everyone from the key decision makers to the on-site folks. They have 35+ long-standing MSAs with all customers. As a result, they get the “inside track” to projects being considered or given the green light. They are also called on to take over projects that are in trouble. They do no advertising, and yet sales and profits continue to grow at a controlled pace.
History & team:
The founder and his wife built the business organically (little to no debt) from a single truck and a rented backhoe, to the key equipment, dedicated facilities, and most importantly, a team of mostly full-time, and some part-time staff. Together they offer the right mix of skills, attention to detail and a get ’er done attitude. As a result, the owner actually takes time off throughout the year and the business does not miss a beat. The entire team prides themselves on being on time and on budget, with a finished product that is second to none.
Current markets: Oil and gas exploration and production (E & P) companies looking to build, operate / optimize, maintain, and decommission well sites. No down-hole services are offered yet. 25% of revenue is equip. rental
Services offered:
Bidding new P&A work in CO, MT, WY. Many of the new O&G regulations have led to more service offerings and an INCREASE in demand for services at EXISTING well sites. They are actually turning work away.
From cutting in roads, to P&A of well sites ( and everything in between, they offer:
-Well-site construction
-Equipment rental: 25% of rev
-Environmental and safety-compliance services
-Roustabout services
-On-site and off-site custom fabrication
-Well-site telemetry hardware installation and retrofits
-Well-site supervision
-Oil and gas contract pumping
-Oil and gas well pressure testing
-24/7 emergency oilfield service
Compelling-competitive advantages:
-Founder started out as an oilfield worker, and has over two decades of experience.
-Master Service Agreements with 38+ customers
-Long-term customer relationships with regionals to Fortune 500 E&P companies
-Little to no money tied up in on-hand inventory, as most materials and supplies provided by the customers on a pre-paid basis.
-75 to 80% of their work is on a T&M basis. Very little competitive bidding.
-Revenue: 45% new construction, 30% ongoing well-site services, 25% equipment rental
-Beyond their core year-round employees, they have a bench of key part-time talent.
-Excellent safety, on-time & on-budget performance
