Chet Morrison Seals Deal With IOS, Forms Well Services Co.

Chet Morrison Contractors, Inc. (CMC) and International Offshore Services, Inc. (IOS) have announced an agreement for CMC to purchase all of the assets of the IOS subsidiary, Premium Well Services, LLC (PWS). The transaction is effective as of April 1, 2008.

CMC will operate the assets under the name Chet Morrison Well Services, LLC. The company performs hydraulic workover and well plugging and abandonment services in the Gulf of Mexico.

Although there are no expected changes to the management and employees of PWS, the headquarters of the well services company will move from Harvey to Houma bringing about 75 new jobs to the Houma area.

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