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Press Release SOURCE: The Dillard Anderson Group Basic Energy Services Acquires Oilwell Fracturing Services Friday,
October 14th, 2005
Sam
Anderson, Managing Director of the Dillard Anderson Group (DAG)
announced the sale of Oilwell
Fracturing Services, Inc. of Cushing, Oklahoma to Basic Energy Services,
Inc. of Midland, Texas. Oilwell
Fracturing Services has been a leading provider of well stimulation
services (fracturing and acidizing) in central and eastern Oklahoma for
the past twenty five years. The
Company operates an extensive fleet of specially designed trucks,
trailers, and pressure pumping equipment.
The purchase price was not publicly disclosed.
The sale was the fifth oilfield service transaction closed by DAG
this year. Max
Dillard, Managing Director, commented "We were delighted to serve
as the exclusive advisors to the owners, Mr. Gail Dilley, Mr. Steve
Dilley and Mrs. Cristy Foster in the sale of their company.
They achieved their financial goals, and each will continue with
Basic in senior regional management positions.
In addition, we were pleased that all Oilwell Fracturing
employees will remain with the Company".
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