Press
Release
SOURCE:
The Dillard Anderson Group
Anchor
Drilling Fluids USA, Inc. Acquires Ozark Mud & Chemical Inc. Friday,
May 5th, 2006 Tulsa
based Anchor Drilling Fluids USA, Inc., the largest independent drilling
fluids company in the United States, today announced that it has
completed the acquisition of Ozark Mud & Chemical, Inc., the leading
provider of drilling fluid products and services in the state of
Arkansas. Ozark
will retain its name and continue to be led by Terry Davis, the
company's founder. "Terry
has an excellent, well-deserved reputation and a very loyal customer
base" said Anchor CEO Bob West.
"For twenty years, Ozark has been the drilling fluids
company of choice in Arkansas' Arkoma Basin and they are the leader in
the new Fayetteville Shale development as well." Anchor
is a leading drilling fluid, engineering and oil and gas well-site
service provider in the Rockies, Mid-Con and Permian Basin.
Anchor employs one of the most experienced engineering, technical
and distribution teams in the industry providing customized solutions
for many diverse drilling requirements. "The
Ozark organization is world-class and is a perfect strategic growth
acquisition for Anchor," said Anchor President Phil West.
"Additionally, the merger will provide Ozark with the
capability to grow with the increasing activity and complexity of the
Fayetteville Shale." The
shale appears to be the geologic corollary to the productive Barnett
Shale in the Ft. Worth Basin. Drilling
for unconventional domestic natural gas reserves has increased in an
effort to offset accelerating production declines of many conventional
domestic fields. Terms
of the sale were undisclosed. _______________________________ The Dillard Anderson Group, Houston, Texas ("DAG") served as the financial advisor to Ozark on the Anchor Acquisition. Max Dillard and Sam Anderson are the managing directors of DAG. |