Oilwell Fracturing Services, Inc. (OFS), is a pressure pumping company which provides acidizing and fracturing services to its E&P customer base in Oklahoma and southern Kansas. OFS was incorporated in 1981 and established its headquarters in Cushing, Oklahoma. The co-founder, Mr. Gail Dilley, along with the other two owner/managers, Mr. Steve Dilly and Mrs. Cristy Foster, built the leading independent pressure pumping company in Oklahoma over a twenty five year period.
The Dillard Anderson Group (DAG) was referred to OFS by an attorney who was familiar with our expertise. DAG called on the owners of OFS, and developed an understanding of their personal and financial objectives. DAG provided our list of references, and, based on the feedback received from our previous clients, the owners elected to engage for a sale. DAG, through our knowledge of the oilfield service industry and private equity markets, approached a selected number of strategic and financial acquisition candidates. One of these was Basic Energy Services, Inc., Midland, Texas. Basic provides a diverse suite of services to the oil and gas industry, including a growing pressure pumping division. The value of the all cash purchase price was not publicly disclosed.
Mr. Gail Dilley serves as a consultant to the company until he transitions into retirement. Mr. Steve Dilley continues as division operations manager and Mrs. Foster continues as the division finance and administrative manager.