C&J Energy Services Inc. has entered into a definitive agreement to acquire O-Tex Holdings Inc. and its operating subsidiaries, including O-Tex Pumping LLC. O-Tex is majority owned by White Deer Energy LP.
Under the terms of the agreement, C&J will acquire all the outstanding equity interests of O-Tex in a cash and stock transaction, with consideration comprising $132.5 million in cash and approximately 4.42 million shares of C&J’s common stock.
O-Tex specializes in both primary and secondary downhole specialty cementing services in most major U.S. shale plays. O-Tex recently opened its newest facility in Pecos, Texas, serving customers in the Delaware Basin. O-Tex also holds a presence in the mid-continent, the Rocky Mountains and the Northeast.
For more information, visit www. cjenergy.com or call (713) 325-6000.