Generational Equity, a leading mergers and acquisitions advisor for privately-held, middle-market businesses is pleased to announce a majority interest acquisition of its client, DLM Oilfield Enterprises Ltd. (DLM), headquartered in Bonnyville, Alberta, by Westward Partners, LLC, headquartered in Seattle, Washington. The transaction closed on April 17, 2012.
Founded in 2012 by long-time oilfield entrepreneur Dave Petry, DLM provides maintenance services to cold oil and SAGD production facilities throughout Northeast Alberta. The Company utilizes its large fleet of flush-by trucks, pressure trucks, and vacuum trucks and an experienced base of operators to service some of the largest oil companies in Alberta. The Company maintains over 40 pieces of heavy equipment including pressure trucks, body-job vacuum trucks, flush-by trucks, and semi-vacuum trucks to provide a variety of services to cold production and SAGD facilities. The large employee base of DLM is focused on providing industry-leading customer service.
Over the past 12 years, Dave Petry, DLM's current and long-time President, has led the Company's growth from a single truck to one of the largest operators in the region. "Westward's transaction experience proved invaluable in getting our deal completed on a timely basis. We look forward to the many resources Westward can bring to bear to help us achieve our growth goals for the future," Mr. Petry said.
Managing Directors Stephen Crisham and Lori Galloway, together with affiliate Ted Rattenberry, led the Generational Equity deal team that advised DLM on the transaction.
Recommended Reading
To Dawson: EOG, SM Energy, More Aim to Push Midland Heat Map North
2024-02-22 - SM Energy joined Birch Operations, EOG Resources and Callon Petroleum in applying the newest D&C intel to areas north of Midland and Martin counties.
Chevron Hunts Upside for Oil Recovery, D&C Savings with Permian Pilots
2024-02-06 - New techniques and technologies being piloted by Chevron in the Permian Basin are improving drilling and completed cycle times. Executives at the California-based major hope to eventually improve overall resource recovery from its shale portfolio.
Stena Evolution Upgrade Planned for Sparta Ops
2024-03-27 - The seventh-gen drillship will be upgraded with a 20,000-psi equipment package starting in 2026.
TotalEnergies Starts Production at Akpo West Offshore Nigeria
2024-02-07 - Subsea tieback expected to add 14,000 bbl/d of condensate by mid-year, and up to 4 MMcm/d of gas by 2028.
Shell Brings Deepwater Rydberg Subsea Tieback Onstream
2024-02-23 - The two-well Gulf of Mexico development will send 16,000 boe/d at peak rates to the Appomattox production semisubmersible.