Operations of Canada-based Gearcon, Inc. and Gearcon Drilling Tools, Inc. will be relocated from Nisku, Alberta to Houston, TXHouston, TX (April 2018) – Tally Energy Services, a private equity backed oilfield services company with a buy and build strategy specializing in North American shale products and services, announced today the acquisition of substantially all of the assets of Gearcon, Inc. and Gearcon Drilling Tools, Inc. The acquisition will expand Tally’s offerings to include downhole drilling motors and will strengthen the firm’s ability to optimize the directional drilling services offered to clients.
Gearcon Drilling Tools is an integrated design, manufacturing and service company specializing in development, production and rentals of Downhole Drilling Motors and other downhole drilling equipment. “With its rigorous quality standards and motor designs focused on robustness, reliability and simplicity, Gearcon truly compliments Tally’s growing portfolio,” said Chris Dorros, CEO of Tally Energy Services. “Robert Roszak and his team have built an exceptional company, spearheading advancements in the development of drilling motors that offer superior performance in the field and effortlessness in the service bay.”
Added Dorros, “The acquisition of Gearcon supports Tally’s ambitions to develop collaborative partnerships in directional drilling, completions, and artificial lift to support the development of the ever-evolving North American shale programs. As we strive to build out a broad drilling services business, enhancing the reliability and efficiency of the directional drilling process is an important step towards that goal.”
“I am proud of the work and innovation the Gearcon team has achieved thus far and the partnership with Tally Energy provides access to capital for us to continue to pursue developing technologies,” said Robert Roszak, founder and President of Gearcon. “Tally’s strategy to grow innovative businesses serving North American operators is exciting and we are thrilled to be a part of it. We are relocating the operations and introducing our equipment into Tally’s drilling operations with a deliberate and staged approach over the course of the year to ensure high levels of service quality and full knowledge transfer.”
Tally and Gearcon share many of the same core values such as a thorough approach to projects, an outstanding reputation for quality, and a steadfast commitment to customers. Tally and Gearcon are committed to working seamlessly through the integration process to remain focused on client needs and further strengthening their services.
Financial terms of the transaction were not disclosed.
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About Tally Energy Services
Tally Energy Services is a private-equity backed firm focused on North America shale. With a solid buy and build strategy, the firm seeks innovative US companies in technical oilfield products and services with opportunities for growth, consolidation, and differentiation. Through strategic guidance, its pragmatic approach and operational expertise, Tally Energy drives transformation that unlocks each company’s potential with a long-term goal of achieving best-case outcomes for its businesses and investors. Tally Energy Services: www.tallyenergy.com
About Gearcon Drilling Tools
Gearcon Drilling Tools is a leading supplier of quality downhole drilling motors. Serving the oil and gas industry, Gearcon designs, manufactures, sells, services, and rents downhole drilling motors. Gearcon Drilling Tools is committed to supplying customers with the highest quality products and an unmatched level of service. Manufacturing components in-house at the state of the art facility gives Gearcon complete control, from design right through to shipment. Gearcon’s engineering capabilities, superior manufacturing practices, and use of latest technology and materials, provides optimum performance and meets the highest quality standards.
Media Contact
Company Name: Tally Energy
Contact Person: Dana Summers
Email: Send Email
Phone: 3346634424
Address:3104 Edloe Street, Suite 320
City: Houston
State: Texas
Country: United States
Website: www.tallyenergy.com
Source: www.abnewswire.com
