M&A Deal Summary

Grey Wolf Acquires Patriot Drilling

On April 22, 2004, Grey Wolf acquired energy services and equipment company Patriot Drilling from Lime Rock Partners

Acquisition Highlights
  • This is Grey Wolf’s 1st transaction in the Energy Services and Equipment sector.
  • This is Grey Wolf’s 1st transaction in the United States.
  • This is Grey Wolf’s 1st transaction in Texas.

M&A Deal Summary

Date 2004-04-22
Target Patriot Drilling
Sector Energy Services and Equipment
Buyer(s) Grey Wolf
Sellers(s) Lime Rock Partners
Deal Type Add-on Acquisition

Target

Patriot Drilling

Midland, Texas, United States
A private drilling contractor focused on the Rocky Mountain region, Patriot Drilling expanded and upgraded its fleet with growth capital from Lime Rock Partners.

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Buyer(S) 1

Buyer

Grey Wolf

Houston, Texas, United States

Category Company
Sector Oil/Gas Exploration
DESCRIPTION

Grey Wolf, Inc. provider of contract oil and gas land drilling services in the Ark-La-Tex, Gulf Coast, Mississippi/Alabama, South Texas, West Texas and Rocky Mountain regions with a drilling rig fleet of 127 after closing this acquisition.


DEAL STATS #
Overall 1 of 1
Sector: Energy Services and Equipment M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Texas M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2004 M&A 1 of 1

Seller(S) 1

SELLER

Lime Rock Partners

Westport, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 10.4B USD
Size Mega
Type Sector Focused
DESCRIPTION

Lime Rock Partners is a private investment firm focused on growth capital investments in the energy industry. Specifically, Lime Rock looks for companies engaged in exploration & production, energy service, and oil service technology in North America and Europe. Lime Rock's target investment size is $50 to $150 million in businesses valued up to $500 million. Lime Rock Partners was formed in 1998 and is affiliated with Lime Rock Resources. Lime Rock Partners has offices in Westport, Connecticut; Aberdeen, Scotland; and Houston, Texas.


DEAL STATS #
Overall 3 of 62
Sector: Energy Services and Equipment M&A 3 of 26
Type: Add-on Acquisition M&A Deals 3 of 25
State: Texas M&A 1 of 15
Country: United States M&A 2 of 29
Year: 2004 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-01 Reservoir Exploration Technology ASA

Oslo, Norway

Reservoir Exploration Technology (OSE: RXT) is a marine geophysical company specializing in multi component sea-floor acquisition services for the international oil and gas industry. Lime Rock Partners was an original investment partner of the company at its formation in April 2004, and it reinvested in RXT in December 2008.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-01 Serimax SAS

Villepinte, France

Serimax is headquartered in the suburbs of Paris, France, and is the leading independent provider of automated welding services to the pipeline industry. It provides reliable and fast welding services and equipment in high cost or complex situations, and its solutions are applied offshore, and/or where complex metallurgy or clad pipelines require highly skilled and consistent welding operations.

Buy -