Panhandle Oilfield Services Acquires Eagle Automation
FOR IMMEDIATE RELEASE
Panhandle and Eagle Automation Provide One-Call Solution for Mechanical, Electrical, and Automation Services
OKLAHOMA CITY, Oklahoma, April 6, 2015 /PRNewswire/ – Panhandle Oilfield Services, Inc. (“Panhandle”) announced today that it completed the acquisition of Eagle Automation Limited (“Eagle”), a leading automation and measurement services provider. Based in Corpus Christi, TX, Eagle operates in the Eagle Ford, Permian, and Eaglebine basins. The transaction closed on March 13th, 2015.
For the last 18 years, Eagle has provided automation and measurement services to onshore drilling and production operations. With one of the strongest reputations for quality service in its industry, Eagle has grown consistently and added three locations in Texas: McAllen, San Angelo, and Jewett. Panhandle provides a platform to support Eagle’s continued growth while jointly leveraging their mechanical and construction focus and customer base.
“We are excited about working with Panhandle. We share similar values and outlook on the oilfield, and we look forward to building this business together,” said Alan Morgan, Founder and President of Eagle.
“Eagle has built a quality offering and strong reputation for service, and we believe it will be a great addition to our existing Panhandle service lines,” said Tim Long, Chief Executive Officer of Panhandle. “There is a tremendous market opportunity in providing a “One Call” solution to our customers. By combining Eagle’s automation and electrical expertise with Panhandle’s experience constructing production facilities, we can help our customers quickly and efficiently bring their production online.”
“Customers rely on the breadth and depth of technical expertise that Alan and his team at Eagle bring,” said Steve Seay, Panhandle’s Chief Operating Officer. “We are excited to share this with Panhandle’s customers.”
About Eagle Automation Limited
Eagle Automation Limited is a leading multi-basin energy services company that provides automation and measurement solutions throughout the Texas oil and gas plays. Led by industry veteran Alan Morgan, Eagle has built one of the strongest reputations for quality and service in the industry. Eagle Automation’s website is www.eagleautomation.net.
About Panhandle Oilfield Services, Inc.
Panhandle (www.posci.net) is an integrated oilfield services company and portfolio company of Argosy Capital. Founded in 1983, Panhandle’s total commitment to safety and service quality has fueled its growth throughout the Northeast, Midcontinent, and Rocky Mountain regions. Panhandle’s service offerings include: production facility construction and maintenance, containment systems installation, oilfield tubular inspection and logistics, trucking and equipment moving services, safety services including H2S monitoring, as well as artificial lift sales and service.
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