Bold Production Services, LLC Acquires Proprietary Gas Treating Chemical
HOUSTON, Feb. 2, 2017 /PRNewswire/ -- Bold Production Services, LLC ("Bold" or the "Company") has enhanced its gas treating capabilities via the acquisition of proprietary assets including the intellectual property rights to a hydrogen sulfide ("H2S") scavenger and long-standing customer relationships. The H2S scavenger is highly complimentary to Bold's existing gas treating and processing assets and advances Bold's vision of creating a turnkey production solution. Additionally, the acquisition further facilitates Bold's entry into the midstream and downstream energy verticals.
The H2S scavenger acquired by Bold has a proven track record of successfully treating and eliminating H2S from natural gas. It has been used by Fortune 500 companies in all three energy verticals and across the United States for over 20 years to effectively reduce H2S emissions. The chemical does not contain triazine and is liquid-based as opposed to a granular media. These characteristics benefit customers by lowering disposal costs and minimizing well downtime.
"Despite a challenging market, Bold has continued to expand the products and services we provide to our customers. This acquisition was particularly attractive because it is highly complimentary to our existing product and service offering," said Bold CEO Glen Wind.
Bold President Blake Maywald said, "Heading into 2017, we are focused on growth. In addition to supporting our existing customers, this acquisition will allow us to pursue new customers in the midstream and upstream energy verticals."
"The addition of this new product line is exciting," said Jerad McMayon, Partner at OFS Energy Fund. "OFS is pleased to support Bold as it furthers its vision of creating a turnkey production solution for its customers."
For inquiries regarding Bold's H2S scavenger services, please call: +1-(866)-TXSOURGAS
About Bold Production Services
Bold Production Services provides highly-engineered flowback and production equipment to oil and gas operators and other service businesses. Bold, based in Houston, is a partnership between OFS Energy Fund and Bold's CEO, Glen Wind, former CEO of Zephyr Gas Services. For more information about Bold, please visit www.bps-llc.com.
About OFS Energy Fund
Houston-based OFS Energy Fund is a private equity firm that specializes in acquiring and recapitalizing lower middle-market energy service companies. OFS seeks to provide capital to business owners in the form of buyouts, recapitalizations and growth equity investments. The Fund supports the development of management, appropriate governance, professionalization of reporting, and the tracking of operating metrics. OFS currently has in excess of $300 million of committed private equity capital under management across its Fund II and Fund III. Additionally, OFS lends industry relationships, ideas for operational improvement, and support in developing strategic growth plans and initiatives. For more information please visit www.ofsfund.com.
SOURCE Bold Production Services, LLC
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