EGPI Firecreek Acquires Assets of Circle D
EGPI Firecreek announced that it is acquiring the assets of Circle D located out of Brownwood, TX, through its wholly owned subsidiary Chanwest Resources, Inc.
This latest acquisition of assets is a proactive and strategic effort in expanding EGPI's oil & gas service division, and is now poised to commence operations in the oilfield construction markets of Northeast Texas and Northwest Louisiana. Chanwest Resources feels this acquisition will provide the Company with steady cash flow from its operations, while becoming a recognized service provider in their geographical region.
Additionally, the Company has also hired David Killian to supervise this operation. Mr. Killian has over 35 years in the trucking and construction industry related to oilfields in this area and is a welcomed addition to EGPI's management team.
The company will now base its operations out of Atlanta, Texas and plans on servicing the Caddo Pine Island gas and oil fields and its surrounding areas. The Company has already been awarded its clearance and DOT numbers for its vehicles and upon new vehicle registrations, will commence operations which will initiate immediate revenue generation.
Dennis Alexander, CEO and Chairman of EGPI, stated, "We are pleased that our oil and gas services division has been successful in adding additional assets and management expertise from this transaction. We look forward to the next steps of our strategic plan for the Gas and Oil Division of the Company."
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