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. “Tucker’s technology and expertise will be key for our clients as we continue to expand into new shale plays,” said John Tucker, CEO of Tucker.
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.