Propell Strengthens Equipment Portfolio and Services Offering
Propell announced today the acquisition from C&J Energy Services the assets of Total E&S, Inc. dba Total Equipment and Service (T.E.A.S.), a Texas-based oilfield equipment manufacturer. This acquisition continues Propell’s strategic growth and coincides with an increase in North American oilfield activity and the recent introduction of the America First Energy Plan.
“As America maximizes oil and gas production to become energy independent, Propell’s continued growth will support job creation and the expanding oil and gas industry,” said Scott Mason, CEO of Propell’s parent company TYCROP. “Propell is considered unique in the industry for the capabilities and investment in equipment design, engineering, manufacturing systems and customer support. We’re continually making improvements that directly impact our customer’s bottom line by setting new standards in operational performance and protection of workers and the environment – now we have significantly grown that capability.”
Propell has manufactured and renewed equipment for major well service companies in the U.S. and Canada since 2008. Propell will expand its oil and gas market offerings to include T.E.A.S.’s coil tubing and well stimulation equipment.
“By combining the assets of two strong companies, we now have a complete product portfolio under one aligned brand,” stated James Easden, Propell President. “We currently have a strong presence in the oilfield with our existing product offerings, however with the addition of the team at T.E.A.S., a range of new products, and the Granbury location we will be in much better position to support our customer’s operations throughout North America and beyond.”
The acquisition includes equipment designs and other IP, facilities and property, and inventory. T.E.A.S. equipment will undergo an engineering review and rebranding under the Propell name. Propell has provided employment opportunities to current T.E.A.S. employees and will maintain current equipment manufacturing and equipment renewal operations in the Granbury, Texas facilities.
“As America maximizes oil and gas production to become energy independent, Propell’s continued growth will support job creation and the expanding oil and gas industry,”
– Scott Mason, Propell CEO