•  
  •  
  •  
  •  
  •  
  • Untitled Document
    Untitled Document

    Vision Oil Tools expands oilfield services in Bakken, Piceance, DJ Bain with acquisition

    Vision Oil Tools

    Vision Oil Tools LLC, an OFS Energy Fund portfolio company that provides oilfield rental tool and fishing services to oil and gas operations, has agreed to acquire Piceance Fishing & Rental Inc., a Western Colorado-based provider of oilfield tools and fishing services for drilling, completion and well control applications.

    Vision, which has operations in Wyoming and North Dakota, purchased Piceance in a cash and stock transaction, whereby Piceance shareholders will become significant shareholders in the combined companies under Vision. The acquisition of Piceance is part of Vision’s expansion strategy for fishing services and equipment rentals to support oil and gas customers in the Bakken shale formation in North Dakota, the Piceance Basin and the DJ Basin in Colorado and other nearby basins.

    Brad Hayden, president of Piceance who will become chief operating officer of Vision, added, “We are excited to be part of fast-growing Vision and the OFS team. Their industry experience and relationships will be invaluable as we continue to execute Vision’s growth plan. Also, having the capital from OFS Energy Fund will help us accelerate our growth of products, services and geographic reach.”

    Vision was recapitalized by OFS Energy Fund in 2012 and is one of two portfolio companies in OFS Energy Fund II. Cadence Bank of Houston provided financing for the transaction.

    Houston-based OFS Energy Fund is one of the few professionally managed private equity firms that specializes in acquiring and recapitalizing lower middle-market companies with identifiable paths for organic and acquisitive growth.  

    Most Popular

    Related Articles

    Hess to sell interest in Bakken midstream assets and form new JV

    06/11/2015 Hess Corp. has agreed to sell a 50% interest in its Bakken midstream assets to Global Infrastructure Partners for cash consideration of $2.675 billion. Hess and Global Infrastructure Partners will ...

    UND research reveals truth behind satellite images of Bakken flares

    06/10/2015 Researchers from the University of North Dakota (UND) Energy & Environmental Research Center and the John D. Odegard School of Aerospace Science's Department of Earth System Science and Policy ...

    Measuring unconventional well performance

    06/08/2015

    Multiple parameters should be considered

    Bakken, Eagle Ford production flat in April

    06/01/2015

    Oil production from key shale formations in North Dakota and Texas were mostly flat in April as compared to March, according to Bentek Energy, an analytics and forecasting unit of Platts.

    Synergy Resources appoints Peterson as president

    05/29/2015

    Lynn Peterson has joined Synergy Resources Corp. as president of the company. 

    American Midstream launches open season for Bakken gathering system

    05/26/2015 American Midstream Partners LP confirms that American Midstream Bakken LLC, a wholly owned subsidiary of the Partnership, is conducting a binding open season for a proposed 50-mile Bakken crude oil...

    More Oil & Gas Financial Articles

    Hess to sell interest in Bakken midstream assets and form new JV

    Thu, Jun 11, 2015

    Hess Corp. has agreed to sell a 50% interest in its Bakken midstream assets to Global Infrastructure Partners for cash consideration of $2.675 billion. Hess and Global Infrastructure Partners will create a premier midstream joint venture – Hess Infrastructure Partners.

    UND research reveals truth behind satellite images of Bakken flares

    Wed, Jun 10, 2015

    Researchers from the University of North Dakota (UND) Energy & Environmental Research Center and the John D. Odegard School of Aerospace Science's Department of Earth System Science and Policy have released the findings of a recent report conducted to take a closer look at satellite images of associated gas (i.e., flaring) in the North Dakota Bakken formation.


    Measuring unconventional well performance

    Mon, Jun 8, 2015

    Multiple parameters should be considered

    Bakken, Eagle Ford production flat in April

    Mon, Jun 1, 2015

    Oil production from key shale formations in North Dakota and Texas were mostly flat in April as compared to March, according to Bentek Energy, an analytics and forecasting unit of Platts.

    Synergy Resources appoints Peterson as president

    Fri, May 29, 2015

    Lynn Peterson has joined Synergy Resources Corp. as president of the company. 

    OGFJ photo of the day


    Click to view slideshow

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ