ARC Financial portfolio firm STEP Energy Services is set to acquire Oklahoma fracking solutions company Tucker Energy Services, in a cash deal worth $$330mm. The purchase features assets in the Woodford plays in Oklahoma, including four fracturing spreads of 192,500 horsepower. In addition, STEP has secured 275 of a revolving syndicated credit facility, as well as several smaller operating facilities.
ARC Financial portfolio firm STEP Energy Services is set to acquire Oklahoma fracking solutions company Tucker Energy Services, in a cash deal worth $275m. The purchase features assets in the Woodford plays in Oklahoma, including four fracturing spreads of 192,500 horsepower. In addition, STEP has secured $330m of a revolving syndicated credit facility, as well as several smaller operating facilities.