M&A Deal Summary

KLX Acquires Greene s Energy

On March 8, 2023, KLX acquired oil/gas exploration company Greene s Energy

Acquisition Highlights
  • This is KLX’s 1st transaction in the Oil/Gas Exploration sector.
  • This is KLX’s 2nd transaction in the United States.
  • This is KLX’s 2nd transaction in Texas.

M&A Deal Summary
Date 2023-03-08
Target Greene s Energy
Sector Oil/Gas Exploration
Buyer(s) KLX
Deal Type Add-on Acquisition
Advisor(s) Sidley (Legal)

Target

Greene s Energy

Houston, Texas, United States
Greene's Energy is an oilfield services company focused on the completion and production markets in South Texas, West Texas, and New Mexico and also has certain divisions in Louisiana. The company provides well testing, flow back, and frac support services including wellhead protection. Greene's Energy was founded in 1953 and is based in Houston, Texas.

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Buyer(S) 1

Buyer

KLX

Houston, Texas, United States
Category Company
Founded 2018
Sector Energy Services and Equipment
Employees1,919
Revenue 888M USD (2023)
DESCRIPTION

KLX is an onshore provider of mission-critical oilfield services focused on completion, intervention, and production activities for the most technically demanding wells. KLX Energy Services’ experienced and technically skilled personnel are supported by a broad portfolio of specialized tools and equipment, including innovative proprietary tools developed by KLXE’s in-house R&D team. KLX was founded in 2018 and is based in Houston, Florida.

DEAL STATS #
Overall 2 of 2
Sector (Oil/Gas Exploration) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Texas) 2 of 2
Country (United States) 2 of 2
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-03 Quintana Energy Services

Houston, Texas, United States

Quintana Energy Services, Inc. provides a wide range of completion, production and drilling services to onshore E&P customers operating in unconventional resource plays and conventional basins throughout the U.S. QES operates via two subsidiaries, Consolidated and DDC. Consolidated provides frac, cementing, acidizing, wireline, water heating, and transfer and CO2 product sales and transportation services. DDC provides directional and horizontal measurement-while-drilling services, downhole navigational and rental tools, and associated support services. Quintana Energy Services was founded in 2017 and is based in Houston, Texas.

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Legal