C&J Energy Services – CJES – To acquire all of the outstanding equity interests of Casedhole Holdings

C&J Energy Services, Inc. (NYSE:CJES) announced that it has entered into a definitive purchase agreement to acquire all of the outstanding equity interests of Casedhole Holdings, Inc. and its operating subsidiaries, including Casedhole Solutions, Inc., for approximately $272.5 million in cash, subject to customary closing adjustments.

Josh Comstock, President and Chief Executive Officer, stated, “This transaction advances C&J’s goal to become a large scale, geographically diversified provider of the most technologically advanced completion services. With this acquisition, we are adding best-in-class wireline services to our premium hydraulic fracturing, coiled tubing and pressure pumping offerings, making us one of the few U.S. companies that simultaneously offer each of these completion services to our growing base of customers.  We are especially pleased to be able to acquire and team with a rapidly growing company whose growth strategy and operating model closely mirrors C&J’s.  Both companies provide the most efficient and effective solutions for customers with the most complex and demanding well completion requirements.  C&J offers Casedhole the opportunity to grow more rapidly with greater access to capital and C&J intends to leverage Casedhole’s expanding market share in geographic regions in which we are not currently operating.”

“We look forward to the addition of Don Gawick, Casedhole’s President and Chief Executive Officer who is joining C&J, to head up our new wireline division. Mike Hobbs, Lance Dunn, Ed Keppler, and Tom Wilkins, all experienced managers who played an integral role in the growth of Casedhole, will also be joining C&J.  Together, we will continue to lead our combined teams to provide our respective customers with additional choice in service offerings while maintaining each company’s existing quality of service.  By further expanding our service lines and leveraging Casedhole’s geographic and customer footprints, we expect this acquisition to facilitate significant growth across each service line and result in long-term increases to stockholder value,” concluded Comstock.

About C&J Energy Services, Inc. – CJES

CJES are an independent provider of premium hydraulic fracturing, coiled tubing and pressure pumping services with a focus on complex, technically demanding well completions. In addition, through our subsidiary Total E&S, Inc., CJES manufacture and repair equipment to fulfill internal needs as well as for third party companies in the energy services industry. CJES operate in what we believe to be some of the most geologically challenging basins in South Texas, East Texas/North Louisiana, Western Oklahoma and West Texas/East New Mexico. We are in the process of acquiring additional hydraulic fracturing fleets and evaluating opportunities with existing and new customers to expand our operations into new areas throughout the United States with similarly demanding completion and stimulation requirements.

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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.