According to JMR, the combined company will offer a one-stop-shop for P&A, well site remediation/reclamation and eventually methane emissions quantification, reduction and monetization via carbon credits. (Source: Shutterstock/ JMR Services/ A-Plus P&A LLC)
Permian Basin plug and abandonment (P&A) company JMR Services has executed a letter of intent to merge with A-Plus P&A LLC, which provides P&A services in the Denver-Julesburg, Permian and San Juan basins.
Financial details of the deal announced by JMR on March 5 were not disclosed. JMR said that in addition to P&A services, JMR will bring to the new company well site decommissioning and reclamation expertise from its recent acquisition of Rattler Industries Inc. d/b/a Rattler Services.
According to JMR, the combined company will offer a one-stop-shop for P&A, well site remediation/reclamation and eventually methane emissions quantification, reduction and monetization via carbon credits.
James (Jimmy) Roark, JMR’s CEO as well as founding principal and board member of A-Plus, will remain CEO of the merged organization under the JMR Services brand. In 2015, he co-founded JMR with his brother, Lee Roark, who is JMR’s COO and who will serve as COO of the combined company.
Trey Stolz, CFO of A-Plus, will serve as CFO of the combined company.
Following the merger, A-Plus’ CEO Randy Pacheco will take on the role of vice president of governmental affairs after the merger.
The merger is anticipated to close early in the second quarter of 2024, subject to customary closing conditions.
Recommended Reading
Pearl Energy Investments Closes Fund IV with $999.9MM
2025-02-04 - Pearl Energy Investments’ Fund IV met its hard cap within four months of launching and closed on Jan. 31.
Utica’s Infinity Natural Resources Seeks $1.2B Valuation with IPO
2025-01-21 - Appalachian Basin oil and gas producer Infinity Natural Resources plans to sell 13.25 million shares at a public purchase price between $18 and $21 per share—the latest in a flurry of energy-focused IPOs.
Magnolia’s Board Adds Ropp as Independent Director
2025-01-07 - Alongside his experience in oil and gas operations, R. Lewis Ropp has a background in finance, capital markets and investment management, Magnolia Oil & Gas said.
Utica Oil Player Ascent Resources ‘Considering’ an IPO
2025-03-07 - The 12-year-old privately held E&P Ascent Resources produced 2.2 Bcfe/d in the fourth quarter, including 14% liquids from the liquids-rich eastern Ohio Utica.
Velocity Management Invests in Pipeline Builder M Wright Services
2025-01-16 - Velocity Management Advisors has made a minority investment in M Wright Services and three of Velocity’s partners will join the construction firm’s board.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.