PRNewswire-FirstCall/ For Immediate Release/ Monday, August 25, 2013
Source: The Dillard Anderson Group, Houston, TX
NUEVE DRILLING COMPANY AQUIRES ASSETS OF CTI SURFACE DRILLING, A DIVISION OF CTI ENERGY SERVICES
CTI Surface Drilling assets were sold to Nueve Drilling Company, Inc. for an undisclosed amount in August 2014.
CTI Energy Services, LLC (CTI) operated two business units: CTI Surface Drilling and CTI Rat Hole. The company is owned by Bob Iverson and Charlie Thompson. The company is based in Ft. Worth, Texas and serves customers on a 24/7 basis in the Barnett, Eagle Ford and Permian Basin plays and will continue its growth in rat hole services.
The Atlas-Copco RD-20 surface drilling fleet was state of the art with all support equipment, tested in the field and ready for immediate deployment.
Nueve Drilling Company is a land drilling firm operating out of Albany, Texas.
DAG served as exclusive financial advisor to CTI and its’ owners.
The Dillard Anderson Group is an investment banking firm that specializes in mergers and acquisitions in the oilfield services industry. The company was formed in 1996, and is a leading investment firm serving the middle market in oilfield services transactions.