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LTR acquires Wellsite Leasing and On Site Water

ODESSA, Texas – Joined by their common business culture of customer service first and foremost, a new alliance between LTR, Wellsite Leasing, and On Site Water has been finalized. This acquisition strengthens LTR’s position in the Bakken Shale oilfield equipment rental market, enhancing the company’s continued growth and performance. Wellsite Leasing and On Site Water bring in excellent products and an established, consumer base in the Bakken. LTR is a privately held oilfield services company that provides generators, light towers, frac tanks and other equipment. LTR currently has 16 locations in 9 states with headquarters in Odessa, TX.

Wellsite Leasing is a privately held oilfield equipment company that provides light towers, heaters, trailers and other equipment. Wellsite Leasing operates in 3 locations in North Dakota with its headquarters in Dickinson, ND.

On Site Water is a privately held company that supplies water management services to the oilfield including pumps and reeled pipe used in water transfer. On Site Water operates in 2 North Dakota locations with its headquarters in Dickinson, ND.

Commenting on the acquisition LTR President, Ted Hogan, said “Adding the people and equipment from Wellsite Leasing and the synergies from the growing On Site Water, LTR’s position in the Bakken Shale play is greatly enhanced. We are very excited to have them as part of the team.”

Terry Keithley – President of Wellsite Leasing said, “We are all very happy to be part of LTR and see this as an opportunity for all our team members to grow along with the company.” Post-closing, Terry Keithley will assume his new role with LTR as a Regional Manager over the Bakken and the Rockies.

 

01/18/2013

 

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