TransTex Treating Announces The Acquisition Of All Amine Treating Assets And Associated Equipment From Bold Production Services' B-Treat Business Division

HOUSTON, May 10, 2021 /PRNewswire/ -- TransTex, LLC DBA TransTex Treating, (https://transtextreating.com) ("TransTex") a leading provider of natural gas treating and processing solutions to operators and midstream companies, today announced that it has acquired the assets within Bold Production Services, LLC ("Bold") B-Treat Business Division. Under terms of the agreement, TransTex Treating will acquire all amine gas treating assets and associated equipment within Bold's B-Treat business line, including associated contracts for in-service equipment. The acquisition is anticipated to increase the book value of TransTex's fleet of amine gas treating equipment by approximately 30 percent and was approved by the TransTex Board of Directors which is effective immediately.

Included in the transaction are in-service amine gas treating facilities located in the Eagle Ford and Barnett Shales, treating approximately 150MMscf/d. The transaction will boost TransTex's recurring rental and service revenue on day one with additional revenue generation from stock equipment once deployed. TransTex plans to hire Bold's employees associated with operations of the in-service assets, further strengthening TransTex's highly experienced workforce.

Commenting on the transaction, Stephen Morgan, Chief Executive Officer and President of TransTex, said, "I'm pleased to announce the acquisition of the assets within Bold's B-Treat business unit. The transaction is a noteworthy accomplishment on several fronts. To start, Bold's amine plants, with their modular designs, complement our existing fleet of amine gas treating equipment. In addition, the acquisition expands our footprint while, at the same time, captures additional synergies that will enable us to operate more efficiently. And finally, it expands TransTex's market share and customer base, creating new growth opportunities throughout the Company."

Glen Wind, Chief Executive Officer of Bold, said, "The sale of amine gas treating assets to TransTex is a "win-win" for both companies.  It allows us to monetize a non-core asset, while, at the same time, provides TransTex with valuable assets that are core to their business and area of expertise. We're excited to work more closely with the TransTex team going forward."

TransTex's acquisition of Bold's amine treating assets perfectly aligns with TransTex's goal of providing clients with modular, quick, and cost-effective treating solutions. As part of TransTex's turnkey solution offerings, the Company provides all upfront engineering, procurement, equipment transportation, onsite construction, and startup/commissioning. 

About TransTex Treating
TransTex Treating is an industry leading provider of natural gas treating, processing, and related production equipment and services, to operators and midstream companies alike. The company operates facilities across the United States, for projects ranging from wellhead solutions to larger centralized facilities. Whether it be for removal of hydrogen sulfide (H₂S), carbon dioxide (CO₂), water, or to cool natural gas, TransTex has the experience needed to maximize its client's production to the pipeline. In addition, TransTex offers flexible commercial options with guaranteed run-times. The Company provides excellent customer service and solutions to succeed. 

About Bold Production Services
Bold Productions Services provides oil and natural gas treating, processing and production solutions for producers, midstream and oilfield service companies. Bold brings a unique blend of products, services, and technology to our customers by leveraging our extensive experience in the oil and gas industry. Through our expertise, Bold delivers ease of installation and operation, on demand service, and best in class safety across all of our products. We maximize runtime for our customers from the wellhead to the pipeline.

Company contact:
Stephen Morgan, CEO and President
Phone: (713)-654-4440
www.transtextreating.com

SOURCE TransTex Treating