Predict your next investment

ENERGY & UTILITIES | Oil & Gas Production & Exploration
pesllc.com

See what CB Insights has to offer

Stage

Acquired | Acquired

About Performance Energy Services

Performance Energy Services, founded in 2000 and headquartered in Houma, La., is a specialty services provider to the upstream oil and gas industry. PES offers a range of production support services including mechanical and electrical installations, structural fabrication and related field services for offshore and onshore production assets. PES serves customers in key oil and gas markets throughout the world including the United States, South America, the Bahamas, Africa and the Middle East.

Performance Energy Services Headquarter Location

132 Valhi Lagoon Crossing

Houma, Louisiana, 70360,

United States

985-868-4895

Latest Performance Energy Services News

Performance Energy Services and CASA Energy Services Announce Strategic Business Combination

Oct 3, 2016

CALGARY, ALBERTA--(Marketwired - Oct. 3, 2016) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Performance Energy Services Inc. (Performance) is pleased to announce that it has acquired CASA Energy Services Inc. (CASA) in an all-stock transaction that closed on October 1, 2016. Following the transaction, Performance will own and operate 16 marketable service rigs, four cementing and acidization units and other related ancillary equipment across operating bases in Red Deer, Edmonton, White Court, Brooks, Weyburn and Kindersley. The combined company will maintain a strong balance sheet with no net debt. It welcomes new operating partners wanting to join a great platform to provide better service for its valued customers and opportunities for its employees. Performance's service rig division will continue to operate as Rearden Well Servicing Ltd. Investment funds controlled by West Face Capital Inc. (West Face) were the 100% owners of CASA, and collectively will be the largest shareholder of Performance following the transaction. Scott Darling, Performance's President and CEO, commented, "CASA provides Performance with increased scale, an expanded geographical presence, and numerous operational synergies. We welcome CASA employees to Performance and are excited about the future growth opportunities for the combined platform. " West Face stated that, "We are pleased to be partnering with Scott Darling and his well-regarded management team. In the current low commodity price environment, consolidation helps Performance provide quality service and value to its customers by keeping costs low and rig utilization higher. " PillarFour Capital Inc. acted as exclusive financial advisor to Performance. About Performance Performance Energy Services Inc. is a leading provider of well servicing, cementing and acidizing to the oil and gas industry in Canada. The company is headquartered in Calgary, Alberta with six locations across Western Canada. Contact Information

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.