Black Bay Energy Capital Announces Investment in ADS Services
ADS Services is a leading provider of critical pressure control equipment and services in the Permian Basin. The Company is led by Charlie Orbell, who serves as President of ADS. This is the second partnership between Charlie Orbell and the Black Bay principals. Charlie is the former CEO of Managed Pressure Operations, a global provider of next-generation managed pressure drilling equipment and services.
Black Bay’s investment in ADS positions the Company to expand its product suite and customer base, with particular emphasis on growth in the Delaware Basin, in response to significant customer demand. The Black Bay growth equity investment will be used for both organic growth initiatives and opportunistic acquisition opportunities.
Charlie Orbell, President of ADS, said, “I am excited to partner with the Black Bay principals again, and the entire ADS team is proud to announce our partnership with Black Bay. Black Bay’s oilfield experience, industry relationships, and value-added capital will enable the Company to rapidly accelerate our plans for growth in the Permian, particularly into the higher-pressure and more technically challenging areas of the Delaware Basin. We are focused on improving the efficiency and safety of all drilling and completion operations in the Permian and will work hand-in-hand with our customer base to drive continuous innovation and lower well costs.”
“We are thrilled to partner with the ADS team and, in particular, to have the opportunity to work with Charlie again,” said Tom Ambrose, Partner of Black Bay. “ADS is managed by a highly skilled team of Midland-based professionals with decades of experience delivering premium and innovative pressure control solutions to the Permian Basin E&P community. The Company is uniquely positioned to provide the service, operational excellence and technical solutions that E&P operators in the Permian Basin need to reduce downtime and improve well productivity.”
Fishman Haygood served as Black Bay’s counsel on the transaction.
About ADS Services:
ADS Services (“ADS”) is a leading provider of pressure-control equipment and services in the Permian Basin. The combination of world-class technical expertise and high quality equipment solutions enables ADS to improve the efficiency and safety of its customers’ drilling and completion operations.
About Black Bay Energy Capital:
Black Bay Energy Capital (“Black Bay”) is an energy private equity firm investing in the North American oilfield service sector. Leveraging more than 60 years of direct industry experience, Black Bay partners with high-growth companies and experienced management teams with differentiated, next-generation products, services and technology solutions that drive value and enhanced efficiency for customers in the oil & gas industry.
ContactsADS Services
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Charlie Orbell, 432-218-4700
or
Black Bay Energy Capital
Tom Ambrose, 504-227-3028
MIDLAND, Texas–(BUSINESS WIRE)–Black Bay Energy Capital (“Black Bay”), a private equity firm focused on
the North American oilfield service sector, is pleased to announce that
it has completed a majority recapitalization of, and growth equity
investment in, ADS Services (“ADS” or the “Company”) alongside Black Bay
Strategic Advisory Board member Charlie Orbell.
ADS Services is a leading provider of critical pressure control
equipment and services in the Permian Basin. The Company is led by
Charlie Orbell, who serves as President of ADS. This is the second
partnership between Charlie Orbell and the Black Bay principals. Charlie
is the former CEO of Managed Pressure Operations, a global provider of
next-generation managed pressure drilling equipment and services.
Black Bay’s investment in ADS positions the Company to expand its
product suite and customer base, with particular emphasis on growth in
the Delaware Basin, in response to significant customer demand. The
Black Bay growth equity investment will be used for both organic growth
initiatives and opportunistic acquisition opportunities.
Charlie Orbell, President of ADS, said, “I am excited to partner with
the Black Bay principals again, and the entire ADS team is proud to
announce our partnership with Black Bay. Black Bay’s oilfield
experience, industry relationships, and value-added capital will enable
the Company to rapidly accelerate our plans for growth in the Permian,
particularly into the higher-pressure and more technically challenging
areas of the Delaware Basin. We are focused on improving the efficiency
and safety of all drilling and completion operations in the Permian and
will work hand-in-hand with our customer base to drive continuous
innovation and lower well costs.”
“We are thrilled to partner with the ADS team and, in particular, to
have the opportunity to work with Charlie again,” said Tom Ambrose,
Partner of Black Bay. “ADS is managed by a highly skilled team of
Midland-based professionals with decades of experience delivering
premium and innovative pressure control solutions to the Permian Basin
E&P community. The Company is uniquely positioned to provide the
service, operational excellence and technical solutions that E&P
operators in the Permian Basin need to reduce downtime and improve well
productivity.”
Fishman Haygood served as Black Bay’s counsel on the transaction.
About ADS Services:
ADS Services (“ADS”) is a leading provider of pressure-control equipment
and services in the Permian Basin. The combination of world-class
technical expertise and high quality equipment solutions enables ADS to
improve the efficiency and safety of its customers’ drilling and
completion operations.
About Black Bay Energy Capital:
Black Bay Energy Capital (“Black Bay”) is an energy private equity firm
investing in the North American oilfield service sector. Leveraging more
than 60 years of direct industry experience, Black Bay partners with
high-growth companies and experienced management teams with
differentiated, next-generation products, services and technology
solutions that drive value and enhanced efficiency for customers in the
oil & gas industry.
Contacts
ADS Services
Charlie Orbell, 432-218-4700
or
Black
Bay Energy Capital
Tom Ambrose, 504-227-3028
