Best Energy Services Inc.
(OTCBB:BEYS)
CEO:Mark Harrington
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Who We Are
We provide client customers with capital to rework existing producing wells. We are a joint effort of Best Well Services and a New York based private equity group.
Filling the customer’s Most Pressing Need — Capital
Customers have certain consistent needs — strong safety requirements; service by people who are trusted and know the Basin; and value pricing. Yet the most pressing practical need, capital has never before been offered as part of a package — until now.
The Need Is Clear
For reasons outside their control, customers may need to delay or eliminate spending on good rate of return workover projects.
Corporate capital allocations shift to larger projects in emerging shale plays, offshore or overseas and cash for routine workovers and recompletions efforts is rerouted to these higher capital demand areas.
Corporate divisional budgets favor new drilling programs at the expense of “bread and butter” activities.
Lenders tighten the purse strings so cash flows go to pay down debt at the expense of maintaining producing cash flows.
Capital lines are stretched by monies spent to acquire new properties – planned workovers and recompletions must be defer red.
Why Best?
Established in the Hugoton Basin in 1991, Best Well Service prides itself on being completely focused on its customers. For 19 years, Best has consistently delivered on time, on spec services to its customers, always at a value price, along with a second to none safety record. Best Well Services works under the leadership of JR Flores, who joined Best in 1994.
In 2008, Best Well’s parent company Best Energy Services brought in a new CEO, Mark Harrington, with a 32-year career in exploration and production. He has been in the shoes of the customers many times and has seen the need HBFP now fills.