OFS Energy Fund News

April 2, 2015

Terra Oilfield Services, LLC Acquires Water Transfer Equipment and Odessa Yard

Houston, Texas (April 2, 2015) - Terra Oilfield Services, LLC (“TerraOFS”) is pleased to announce that it recently closed on the acquisition of substantially all of the assets of a west Texas-based water transfer company, which will provide TerraOFS with more infrastructure to support its customers across the Permian Basin.

 

On April 1, 2015, TerraOFS acquired a fleet of water transfer equipment at a deep discount to market value, including eight pumps, five miles of lay flat pipe, a fleet of trucks and trailers, road crossings, pig launchers, and various other water transfer related equipment. The transaction also included a yard located west of Odessa with a shop and on-site housing. The property will provide TerraOFS with a location from which to serve customers in west Texas and eastern New Mexico.

 

“We are excited to add the acquired assets to our fleet at such a deep discount,” said TerraOFS CEO James Wingo. “The transaction provides an ideally located property that will allow us to increase our footprint in the west Texas and eastern New Mexico market.”

 

“OFS Energy Fund is pleased to continue to support TerraOFS as the company maintains its growth and expands its footprint,” said Jerad McMayon, Partner at OFS Energy Fund. “The addition to the asset base will be crucial to the company’s growth initiatives and will immediately increase profitability by offsetting rental equipment.”

 

About Terra Oilfield Services

TerraOFS provides critical water transfer, treatment and fluids management services to the oil and gas industry primarily during the drilling and completion phases. TerraOFS is headquartered in Conroe, Texas and has operations across Texas, Oklahoma, Ohio, North Dakota and New Mexico. For more information, please visit www.terraofs.com.

 

About OFS Energy Fund

Houston-based OFS Energy Fund is a private equity firm that specializes in acquiring and recapitalizing lower middle-market energy service companies. OFS seeks to provide capital to business owners in the form of buyouts, recapitalizations and growth equity investments. OFS supports the development of management, appropriate governance, professionalization of reporting and tracking of operating metrics. OFS currently has under management in excess of $300mm of committed private equity capital across its funds. Additionally, OFS lends industry relationships, ideas for operational improvement and support in developing strategic growth plans and initiatives. For more information please visit www.ofsfund.com.

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