NexTier to Acquire Leading Permian Pressure Pumper Alamo in $268 Million Deal

NexTier Oilfield Solutions expects the addition of Alamo Pressure Pumping’s focus on the Midland Basin to establish NexTier as a leading completions provider in the Permian Basin.

NexTier to Acquire Leading Permian Pressure Pumper Alamo in $268 Million Deal

Alamo operates its 9 hydraulic fracturing fleets comprised of 460,000 hp exclusively in the Permian Basin and primarily out of the Midland Basin. (Source: Alamo Pressure Pumping LLC)

NexTier Oilfield Solutions Inc. agreed to acquire Alamo Pressure Pumping LLC in a cash-and-stock transaction valued at about $268 million that NexTier said will consolidating leading providers of low-carbon well completion solutions in the Permian Basin.

“The acquisition of Alamo accelerates and magnifies the impact of our next-generation technology strategy, providing NexTier with significant opportunities for deploying gas-powered equipment and complimentary integrated solutions into a market with high and increasing demand,” commented Robert Drummond, president and CEO of NexTier, in a company release on Aug. 4.

Founded in 2017, Midland, Texas-based Alamo operates its 9 hydraulic fracturing fleets comprised of 460,000 horsepower (hp) exclusively in the Permian Basin and primarily out of the Midland Basin. About 92% of Alamo’s frac fleet is Tier IV DGB capable and, in 2020, the company achieved $68 million of EBITDA.

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Emily Patsy

Emily Patsy is the senior managing editor for Hart Energy’s Digital News Group. She's responsible for the daily news flow and also manages the A&D Watch and Energy Pulse weekly newsletters.