Torch Rig Services Acquires Grayson Services
Torch Rig Services Company has acquired Grayson Services, a provider of heavy equipment for well service, plugging and abandonment operations. The acquisition caps a one-year partnership between the companies.
TRS provides energy producers and drilling contractors with cementing services, pipe recovery services, electric wireline services, as well as rental and maintenance of pumps, power swivels and tanks.
Grayson's assets, valued at $3.1 million, complement the current Torch service line in the California region. "The addition of these assets to our existing workover rigs will enhance our capabilities and ensure future growth," said James Farr, president of Torch Energy Services, TRS's parent company. "This acquisition will help TRS access new customers and more sophisticated projects over the next few years."
Bob Grayson Sr., who founded Grayson Services over three decades ago, will continue to provide guidance and consulting to the new company. His son, Bob
Grayson Jr., will continue to manage the P&A activities from the company's Bakersfield, Calif., offices.