M&A Deal Summary

Frac Tank Rentals Acquires Two State Oilfield

On December 18, 2012, Frac Tank Rentals acquired oil/gas exploration company Two State Oilfield

Acquisition Highlights
  • This is Frac Tank Rentals’ 1st transaction in the Oil/Gas Exploration sector.
  • This is Frac Tank Rentals’ 1st transaction in the United States.
  • This is Frac Tank Rentals’ 1st transaction in New Mexico.

M&A Deal Summary
Date 2012-12-18
Target Two State Oilfield
Sector Oil/Gas Exploration
Buyer(s) Frac Tank Rentals
Deal Type Add-on Acquisition
Advisor(s) Wilcox Investment Bankers (Financial)

Target

Two State Oilfield

Hobbs, New Mexico, United States
Two State Oilfield is one of the providers of water containment, storage and management services to oil and gas producers in the Permian Basin.

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Buyer(S) 1

Buyer

Frac Tank Rentals

Odessa, Texas, United States
Category Company
Founded 1976
Sector Business Services
DESCRIPTION

Frac Tank Rentals is an independent frac tank rental company operating in the Permian Basin area of West Texas. Frac tanks are predominantly used to hold fluids in the hydraulic fracturing process for completing newly drilled oil and gas wells and reworking existing wells. FTR handles all of the logistics involving delivery, pick-up, cleaning ,and movement of its tanks between jobs using the Company’s fleet of twenty-seven winch trucks and six locations. Frac Tank Rentals was formed in 1976 and is based in Odessa, Texas.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (New Mexico) 1 of 1
Country (United States) 1 of 1
Year (2012) 1 of 1
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