Press
Release
SOURCE:
The Dillard Anderson Group
Basic Energy Services, Inc. Acquires Hydro Static Tubing Testers, Inc. Monday,
August 7th, 2006 Press
Release
The
Dillard Anderson Group announced the sale of
Hydrostatic Tubing Testers, Inc. (HSTT) of Williston, North Dakota,
to Basic Energy Services, Inc. (NYSE:BAS).
HSTT has been the leading provider of high pressure testing of
tubing and casing in the Williston Basin for over 25 years.
The
owner of the Company, Mr. Steve Schubert, stated that he was pleased to
provide for the ongoing growth of HSTT through Basic, which plans to add
additional equipment and personnel to this active region.
Substantially all the employees of HSTT have accepted positions
with Basic. The value of the transaction was not disclosed. The Dillard Anderson Group served as the exclusive advisor to HSTT on the sale. The
Dillard Anderson Group is an investment banking firm which specializes in
mergers and acquisitions for mid-market companies in the oil service
industry. The managing
directors are Max M. Dillard and Sam R. Anderson. |