Boots & Coots Expands into Rental Tool Services
Boots & Coots has decided to purchase equipment and hire personnel to support its entrance into the rental of equipment related to pressure control services in the oilfield. Boots & Coots plans to focus on the flow back rental market and other rental offerings that complement the Company's hydraulic workover, snubbing and well control services.
"Pressure control and flow back rental equipment provide a natural extension of our existing services in well control and snubbing," said Jerry Winchester, president and chief executive officer. "This addition to our service capabilities is a critical step in our objective to be the premier provider of pressure control services, and though initially an initiative for the North America land market, we believe the rental service can readily be developed and expanded into our existing international markets. We anticipate rental operations to be underway around the middle of this quarter."
Boots & Coots has hired Mike Clark as vice president of operations, Tom Hendrix as vice president of business development and Glen Hendrix as operations manager for the rental tools division. Combined, these individuals bring over 73 years of experience in the oilfield rental services business. The company's primary service center will be based in Houston.
Boots & Coots also announced that it has opened a facility in Decatur, Texas, and has deployed three hydraulic rig assist units and two stand-alone snubbing units in the Barnett Shale and other areas in the Mid-Continent region. The Company intends to add rental services to its Decatur facility during the fourth quarter of this year.
"The Mid-Continent region has been a highly prolific oil and gas producer in the US and will play a key role in our strategy to expand our North America land operations," continued Mr. Winchester. "This area is a target market for us due to the unconventional drilling plays in the region, and the geographic presence gained from this expansion will continue to enhance our hydraulic well control and snubbing services and create pull through opportunities for rental, well control and prevention services."
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