Buy this respected drilling company and you’ll walk right into a fat contract to provide drilling services for approximately 70 new wells. The contract anticipates four support holes per well and the company estimates the profit margin for this contract will be north of 50% and putting the company on track for its highest revenues ever.
This oil & gas services driller is an expert at water drilling, but it also provides rat / mouse holes dewatering holes, cathodic protection wells, setting conductor pipe, and other types of spudding services to the oil and gas industry.
Not just anyone is allowed to drill for water, and the firm is bonded, insured and licensed to drill water wells in seven Western states; Utah, Texas, California, Arizona, Colorado, Wyoming, and North Dakota six of which are also prominent oil and gas states. The firm’s expertise in water drilling means that the firm also drills for agricultural, commercial, and residential clients in those seven states.
The listing price is $23,000,000.
Five reasons to buy this company now:
o More than $10 million in fixed assets
o Because this company also drills vent shafts, residential,
commercial and agricultural water wells, compression stations,
industrial construction drilling, and more, it is better able to
weather the storms of the cyclical nature of oil and gas drilling
o State water well drilling licenses are challenging to acquire and a
valuable asset in and of themselves. The company is licensed to
drill for water in seven states, including the two most populous
o The purchase price includes 12 working rigs, with two more
mothballed for parts, a centrally-located 20-acre yard, offices, out-
buildings, trucks, trailers and equipment
o The company’s more than 2 dozen employees are well trained
and have a history of safe operations. The average tenue among
employees is almost 5 years and 17% of the staffers have been with
the company for 10 years or more