Triton American Well Service Completes Acquisition of Instar Field Services
Triton American Energy Corp., provider of natural gas and crude oil, says its wholly owned subsidiary Triton American Well Service, LLC has completed the acquisition of Instar Field Services, Inc.
Instar FieldServices is an oil and gas maintenance company which gauges and pumps wells to determine the rate of outflow and ensure continued operation. Currently, Instar is experiencing a high rate of demand to provide services for energy companies. Management anticipates Instars year-over-year revenue growth to double due to TAW's client base and Triton Austin Chaulks steady flow of wells which are being acquired and in need of maintenance.
TAWS acquisition includes Instars assets which are all trucks, back-hoes as well as a wide compliment of other equipment necessary for TAWS' turn-key twelve well project which is underway on the Blackwell Lease in the Luling-Branyon Field. TAWS now owns a work-over rig, radial jet drilling unit and all of the related field assets to efficiently complete the pilot program, which is now proceeding. TAWS is also in the process of acquiring an additional work over rig.
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