Hydro Static Tubing Testers, Inc. (“HSTT”), located in Williston, North Dakota, has been the Williston Basin’s leading provider of high pressure tubing and casing testing for 24 years. The owner, Mr. Steve Schubert, built and ran a company with an excellent reputation for high quality and timely service throughout the Basin.
Mr. Schubert, after a highly successful career in the oilfield, developed an interest in retirement. He talked to a previous client of DAG (also based in Williston) about our service. After meeting with DAG, Mr. Schubert engaged our firm for the sale of HSTT.
DAG performed an analysis of both financial and strategic buyers, and presented pertinent information to a select few who were interested in pursuing a transaction. Basic Energy Services, Inc. (NYSE:BAS), Midland, Texas, provided the most attractive valuation and best strategic fit. Basic retained all the HSTT employees, and has plans for further expanding the business. Mr. Schubert realized his goal of financial liquidity and is now preparing for his retirement.