Tally Energy Services, a private equity backed firm with a buy and build strategy in specialized North American shale products and services, announced today the acquisition of Premier Directional Drilling. Through this acquisition, Tally has acquired significant technology and a high-quality service platform in directional drilling that complement its current portfolio of oil field services companies. Providing services on rigs in each of the major North American shale plays, Premier Directional Drilling provides expertise in directional planning, directional drilling, downhole performance motors, rotary steerable services, directional surveying, and is anchored by next generation downhole measurement-while-drilling services (MWD).
Premier Directional Drilling takes a unique approach and owns and operates three different technology platforms:
Evolution Engineering’s EVO ONE
The “Unified” telemetry platform delivers high-speed electromagnetic (EM) and oscillating pulse simultaneously providing superior results in extended reach horizontals, high shock or underbalanced environments, and formations usually unfriendly to EM such as the Permian Basin
“Short” Positive Pulse
Provide steady and reliable guidance data for EM unfriendly environments, or where retrievability is required
Extreme Engineering’s XEM
High speed EM based solution used for underbalanced/air drilling, handling higher shock, EM friendly environments, and shorter/shallower horizontal wells
“We are extremely pleased to have Premier Directional Drilling join Tally and contribute to our growth,” said Chris Dorros, CEO of Tally Energy Services. “Michael Kennedy and his team have built an exceptional company with an advanced product offering, deploying leading technology, that is backed up by service levels that are highly respected within the industry.”
Added Dorros, “This acquisition fully aligns with Tally’s goal of developing collaborative partnerships in directional drilling, completions, and artificial lift to support the ever-evolving oil and gas industry. This is an important next step as we continue to build out our directional drilling business platform, focusing on enhancing the efficiency of the directional drilling process and bringing value to customers not yet seen in this space.”
“We were looking for growth capital and ended up finding a partner in Tally Energy that enables us access to capital to grow, vertically integrate our business and continue to pursue developing technologies,” said Michael Kennedy, President and Founder of Premier Directional Drilling.
“We are enthusiastic about Tally’s strategy to grow innovative businesses by focusing on areas most profoundly affecting success: wellbore placement, reservoir communication and bringing hydrocarbons to the surface. While building out our platform, our current leadership team will continue to manage Premier, just as we have been running it since our founding.”
Tally and Premier share many of the same core values such as a thorough approach to projects, an outstanding reputation for excellence, and an unwavering commitment to customers. Tally and Premier are dedicated 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.
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 Premier Directional Drilling
Premier is a full-service directional drilling company headquartered in Houston, TX providing directional drilling services to the US land-based market and GOM offshore. As one of the most comprehensive oilfield service companies, the firm provide expertise in directional planning, directional drilling, downhole performance motors, directional surveying, Unified MWD, Pulse MWD, EM MWD and rotary steerable services.
Link to PDF of release: http://tallyenergy.com/media/image/2017.10.31-Tally-Energy-Premier-Directional-Acquisition-Release.pdf