News | August 21, 2013

Greene's Energy Group Expands Well Testing Division With The Acquisition Of Testco

Greene’s Energy Group, LLC (GEG), a leading provider of integrated testing, rentals and specialty services, announced the acquisition of Testco Well Services, LLC (Testco), an industry leader in well testing, pressure testing and lab services in the Central, South and West Texas markets.

Testco, headquartered in Laredo, TX, was established in 2008 with a focus in pressure testing and began its well testing business in October 2010. In August 2012, Testco purchased its sister company, the current lab services business.

Throughout the past three years, Testco has amassed a talented team and state-of-the-art equipment used in well testing. Its assets include an extensive fleet of trucks and trailers, test separators, sand separators, manifolds, flare stacks, flow lines, line heaters, satellite communication trailers and other supporting equipment, the majority of which is less than three years old.

Its pressure testing assets include a mobile fleet of hydrostatic pressure testing units with torqueing capabilities that primarily serve the completion and production pressure testing market. Its lab services business performs liquid and gas sample testing utilizing the latest technology. These completion and production samples provide information which enables creation of timely reports for clients.

The combined company of Greene’s Well Testing and Testco Well Services will be one of the top five well testing companies in the United States. Jointly the business will have five locations in Texas serving the Eagle Ford in Laredo, Alice, Pleasanton, Floresville and Cotulla. The businesses will also have locations in Odessa, TX, covering the Permian Basin and also in Imperial, PA, covering the Marcellus and Utica basins.

With more than 300 highly trained employees and well maintained equipment, customers will receive best in class service from the combination of Greene’s Well Testing and Testco. Testco will conduct business as Testco Well Services, a subsidiary of Greene’s Energy Group.

“This acquisition moves Greene’s forward in our strategy to strengthen our completion and intervention services portfolio,” said Greene’s Chief Executive Officer Bob Vilyus. “We offer a cohesive group of completion services under the Greene’s and Guardian banners. We will continue to grow these services into many of our 41 locations throughout the U.S.”

“I am very impressed with the high caliber of people at Testco, both in the field and management teams,” said Frank Mathews, Greene’s president of the Rentals & Products business unit. “We are building a significant well testing business, comprised of highly trained field experts and dedicated leadership, to meet the needs and exceed the expectations of our clients in these critical markets.”

Martin Aguirre will remain as the general manager of Testco and will report to Randy Winters, vice president and general manager of Greene’s Well Testing. Aguirre has more than 30 years of oilfield experience and is a well-respected business leader. “We are excited to join the Greene’s family,” said Aguirre. “The businesses have similar values, driven by an attitude of safety first and foremost, while creating customer value, which makes for an excellent cultural fit.”

“We are eager to welcome all of Testco’s employees as we grow our position in the well testing market,” said Winters. “Greene’s Well Testing offers a Hydraulic Choke product line that was missing at Testco, while Testco provides satellite communication, a customer data portal and lab service that Greene’s will immediately utilize. We will continue to invest in both businesses to meet our customers’ growing well testing needs.”

About Greene’s Energy Group
Greene’s Energy Group is a leading provider of integrated testing, rentals and specialty services for drilling, completion, production & pipeline operations. Greene’s employs more than 1,450 employees with its corporate headquarters in Houston and operations center in Lafayette, LA.

SOURCE: Greene's Energy Group