Capstar Drilling is an oil and gas drilling contractor, operating primarily in the Permian Basin of West Texas. The Company was founded and managed by Mr. Jim Brazeal and Mr. Jerry Coleman. It operated ten medium depth drilling rigs of the Walker-Neer Apache design. This design is unique in that it incorporates a top drive system and automatic pipe racking, and requires only a two man drill crew.
DAG was retained to pursue the sale of Capstar. The objectives of the two owners were liquidity and retirement. After an extensive search, DAG negotiated the sale of Capstar to SCF Partners, in Houston, at an attractive valuation.
SCF Partners later structured Capstar as a subsidiary of a newly formed public company, Oil States International, Inc. (NYSE:OIS). Each of the owners stayed for a transition period, and then realized their objective of retirement.