Acquisition of Erick Flowback Services, LLC and Rod’s Production Services, LLC
Baird served as the exclusive financial advisor to New Source on this transaction.
AboutNew Source Energy Partners L.P. (“New Source” or the “Partnership”) (NYSE: NSLP) recently completed the acquisition of Erick Flowback Services, LLC (“EFS”), and all of the outstanding membership interests in Rod’s Production Services, LLC (“RPS”), for $116.8 million.
EFS and RPS are Oklahoma limited liability companies specializing in providing services to oil and natural gas exploration and production companies that increase the safety and efficiencies in pressure-related processes during the completion phase of a well, with a specific focus on well testing and flowback services. EFS and RPS operate primarily in Oklahoma, Texas, Pennsylvania and Ohio.
New Source is a vertically integrated independent energy partnership. The Partnership is actively engaged in the development and production of its onshore oil and liquids-rich portfolio that extends across conventional resource reservoirs in east-central Oklahoma. In addition, the Partnership is engaged in oilfield services that specialize in increasing efficiencies and safety in drilling and completion processes through its Oilfield Services Division subsidiaries. The Partnership is headquartered in Oklahoma City, Oklahoma.
For additional information about this transaction, please contact:
- June 2014
- New Source Energy Partners L.P.
- Target Location
- North America