Express Energy Services Agrees to be Acquired by Apollo Funds




Express Energy Services facility located at 716 Eagle Ford Drive

Express Energy Services facility located at 716 Eagle Ford Drive

Express Energy Services (“Express” or the “Company”), a North American oilfield services company, recently announced that funds managed by affiliates of Apollo Global Management, LLC (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”) and participating management have agreed to acquire the company from its existing shareholders. Terms of the transaction were not disclosed.

Express

Energy Services has service facilities just north of Pleasanton at 716 Eagle Ford Drive, just off FM 536.

Express Energy Services moved into the Pleasanton area in 2012 and Daron Raines has been its district manager of this facility from the beginning.

I asked Raines about Express Energy Services’ move to Pleasanton where their operational office serves the entire extent of the Eagle Ford shale.

Raines said, “We have three divisions here in Pleasanton. In the well testing division there are 76 employees. We also have a wireline division with 30 employees. And then we have a rat hole division where there are 17 employees. We service the Eagle Ford from this side of Bryan all the way to this side of Laredo.

“You could say we serve the Eagle Ford and Eaglebine shales.”

When asked about himself, Raines said, “I came here from Rocksprings, Wyoming. I was there for 20 years. When my wife and I arrived in Pleasanton, the first newspaper we looked up was the Pleasanton Express and saw your articles in the paper.

Express, founded in 2000, is a premier provider of products and services to the petroleum and energy industries. Offering oilfield services in every major hydrocarbon basin in the United States, Express assists EXPRESS its customers with

PLEASANTON six service

| lines, including ZABAVA casing

LEON and tubular running and completion and production services, and a workforce of approximately 1,700 employees in more than 30 locations.

“Apollo is one of the largest and most successful private equity firms in the world and possesses the type of deep energy expertise that we believe will enhance the value of Express Energy Services,” said Darron Anderson, chief executive officer, Express Energy Services. “We are proud Apollo has chosen Express as a platform for oilfield services and are thrilled to partner with them to further develop and grow our business. We expect this transaction will provide considerable strategic benefits to our underlying business along with our customers and employees.”

“We look forward to our new partnership with Express Energy Services and its outstanding management team and employees. We have been extremely impressed with the Company’s culture of excellence, track record of operational success and strong commitment to training, safety and service quality,” said Michael Jupiter, partner, Apollo Global Management. “We believe we are well positioned to help Express achieve its long-term growth strategies for its existing and future service line offerings.”

Express Energy Services, headquartered in Houston, Texas, is a diversified oilfield service company with six service lines located across the United States. Express offers drilling services including casing and tubular running, rathole drilling and drill site rentals. Express also offers completion and production services including well testing and wireline. In addition, Express offers offshore well intervention services in the Gulf of Mexico.

Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Toronto, London, Frankfurt, Luxembourg, Singapore, Mumbai and Hong Kong. Apollo had assets under management of approximately $168 billion as of June 30, 2014 in private equity, credit and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources.

LEON ZABAVA is the Oil and Gas Editor for the Pleasanton Express. He can be reached at 830.281.2341 or lzabava@pleasantonexpress.com. Express Energy Services contributed to this article.


Daron Raines District Manager

Daron Raines District Manager

Darron Anderson, CEO Express Energy Services

Darron Anderson, CEO Express Energy Services

 

 

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