Press
Release
SOURCE:
The Dillard Anderson Group
Complete Production Services, Inc. Acquires Anderson Water Well Services, LTD. Monday,
October 2nd, 2006 Press
Release
Sam
Anderson, Managing Director of The Dillard Anderson Group
("DAG"), announced the sale of the assets and business of
Anderson Water Well Drilling, LTD ("AWW") to Complete Production
Services, Inc. (NYSE:CPX). AWW,
headquartered in Bridgeport, Texas, drills water wells for exploration and
production companies in the Barnett Shale region of North Texas.
The success of the production from the shale depends on fracturing
methods which require large quantities of water.
AWW provides this water through drilling deep, large diameter
wells. Max
Dillard, Managing Director of DAG said "We were pleased to serve as
exclusive advisors to the owners of AWW, Jerry Peek and Jim Rowan.
They have done an outstanding job of capitalizing on the needs for
the slickwater fracs being performed in the Barnett Shale.
This acquisition is a very nice "bolt on" to Complete's
extensive service and product offering for the North Texas region.
We are pleased that Jerry, Jim and all the other AWW employees have
joined Complete". The
purchase price, which was not disclosed, was paid in cash and stock.
The Dillard Anderson Group is an investment banking firm which specializes in mergers and acquisitions in the oilfield service industry. The managing directors are Max M. Dillard and Sam R. Anderson. |