C&J Energy Services completes acquisition of O-Tex Holdings


HOUSTON -- C&J Energy Services, Inc., has announced that it has completed its acquisition of all of the outstanding equity interests of O-Tex Holdings, Inc., and its operating subsidiaries, including O-Tex Pumping, LLC (collectively, "O-Tex"), in a cash and stock transaction. The total consideration paid by C&J consisted of approximately $132.5 million in cash (subject to certain customary post-closing purchase price adjustments) and 4.42 million shares of C&J's common stock. The cash component of the purchase price was funded with cash on hand.

Founded in 2007, O-Tex is the fourth-largest provider of oilfield cementing services in the U.S. based on internal data and industry sources. O-Tex specializes in both primary and secondary downhole specialty cementing services in most major U.S. shale plays with eight field offices, eight lab facilities and one of the youngest fleets in the industry.

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