December 6, 2017
Oil-field services provider C&J Energy Services has completed its acquisition of O-Tex Holdings, a West Texas oil field cementing operator.
It’s a stock and equity transaction, with Houston-based C&J acquiring O-Tex for $132.5 million in cash and 4.42 million shares of C&J common stock.
O-Tex provides both primary and secondary downhole cementing services in major U.S. shale plays.
Along with its vehicle fleet, O-Tex has eight field offices, eight lab facilities and a facility in Pecos that serves the Delaware basin.
“The completion of this acquisition immediately transforms our cementing business into one of the largest and most competitive in the U.S. as we join efforts with O-Tex and their successful team,” C&J CEO Don Gawick said.