$19.6M EBITDA – Provider of Oil Rigs and Related Services

Pacific

$19.6M EBITDA – Provider of Oil Rigs and Related Services
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Asking Price: N/A

Cash Flow: N/A

Gross Revenue: $35,900,000

EBITDA: $19,600,000

FF&E: N/A

Inventory: N/A

Established: N/A

$19.6M EBITDA – Provider of Oil Rigs and Related Services

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Business Description

$19.6M EBITDA – Provider of Oil Rigs and Related Services, Long-Term Contracts with Global Energy Companies

The Company owns and leases custom-built rigs to the world’s largest oil and gas producers. Each rig features a full range of critical workover and exploratory drilling equipment. The Company has several client agreements in place that are valid for 1-10 years. The Company also provides remote camps with catering services for oilfield operations in the same region. Oil and gas exploration companies have little incentive to build and operate their own workover rigs, as this would require investing in and maintaining assets with infrequent use in the case of a single company. They would also need to either keep skilled labor on payroll during down-times or periodically search for and train new employees.

The rigs are single-module, allowing for short set-up times, low exposure to weather, low risk for spills caused by connections between modules and a small overall footprint. With the prospect of two additional rigs planned for roll-out over the next three years, management expects these rigs to contribute substantially to revenue, as they will have the ability to generate more revenue than the earlier models.

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Matt Mahan

Business Listed By:
Lynne Oldale

Woodbridge Group, LLC

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