ADS Services Acquires PowerChokes™ from Expro

HOUSTON--(BUSINESS WIRE)--ADS Services, LLC (“ADS” or the “Company”), a Black Bay Energy Capital (“Black Bay”) portfolio company, is pleased to announce the acquisition of the PowerChokes™ business unit ("PowerChokes™") from Expro Americas LLC, a part of the Expro Group (“Expro”).

ADS is the Permian Basin leader for cost-effective, reliable, safe, and fully traceable managed pressure drilling (“MPD”) systems. The acquisition of PowerChokes™ significantly enhances the ADS geographic footprint, technology portfolio, and asset base. ADS can now provide the industry's most economical, autonomous, and compact MPD offering as part of their comprehensive, bundled services. The Company has recently opened the industry’s only dynamic MPD testing and training school, including a high-capacity and high-pressure flow loop. This facility will be open to clients in early 2021 for training of E&P operator staff, rig and wellsite personnel on the systems and procedures used for managed pressure drilling and dynamic well control.

Charlie Orbell, President & CEO of ADS, said, “For over two decades, PowerChokes™ has been the premier provider of well control chokes, pressure relief systems and premium MPD equipment. ADS is thrilled to combine the PowerChokes™ team, manufacturing and sales capabilities, and intellectual property portfolio with ADS’ existing next-generation approach to the managed pressure drilling market. The MPD & pressure control sector needs improved automation and rig control system integration, and this acquisition enables ADS to be the clear market leader.”

The PowerChokes™ business unit consists of pressure control-related product sales and service, along with a rental offering of well control and MPD equipment. PowerChokes™ product sales and services are provided for various domestic, offshore, and international drilling markets, and will soon be introducing new products for the completion and production pressure control markets.

“By combining the ADS platform with PowerChokes’™ unique sales footprint and intellectual property portfolio, Charlie and the team can provide the drilling market with fully integrated, lower-cost, and safer pressure control solutions. The combined ADS and PowerChokes™’ team will deliver the next step-change towards automated well control for the onshore US, offshore, and international markets,” said Tom Ambrose, Partner of Black Bay.

In addition to acquiring the PowerChokes™ business unit, ADS and Expro are establishing an international partnership agreement to provide value-added MPD services in several regions around the world. Keith Palmer, Expro’s Product Line Executive Vice President, said, “Since Expro acquired PowerChokes 14 years ago, it has grown to be a well-established and recognized brand in its own right. This is a positive step forward for both Expro and ADS, and I am excited to collaborate on projects in the future where we can utilize our specific resources and skills both domestically and internationally.”

Fishman Haygood acted as legal counsel to ADS and Black Bay.

About ADS Services

ADS has established a highly skilled team of pressure-control professionals to deliver premium and innovative managed pressure drilling and well control solutions to the oil and gas industry. Based in Midland and Houston, the Company has a presence in the key US shale plays and provides products and services for the offshore and international markets. ADS recently opened the industry’s first managed pressure drilling technical training school, at its Odessa, TX manufacturing facility. The Company partnered with Black Bay Energy Capital in 2017 to expand its product suite and customer base, with particular emphasis on growth in the high-pressure drilling markets in the Permian Basin.

For more information, please visit: www.adsmpd.com

About Black Bay Energy Capital

Black Bay Energy Capital (“Black Bay”) is an energy private equity firm focused on the North American oilfield service sector. Black Bay invests equity capital in businesses managed by talented entrepreneurs that provide a differentiated product or service to the industry. Black Bay's investment strategy and success stem from the more than 75 years its investment professionals have been working day-to-day with great teams and building high-growth oilfield service companies. Black Bay spends every day collaborating with successful, driven oilfield management teams and has the experience to know what it takes to be successful.

For more information, please visit: www.blackbayenergy.com

About Expro Group

Expro is the well flow optimization expert. Combining innovative disruptive technology with high quality data across well testing, subsea well access, well intervention and production services, delivering a service that’s not just state of the art but highly accurate.

For more information, please visit: www.exprogroup.com