Jasper Ventures Inc. has seen its fair share of downturns, according to President Brent Japser.
The Texas-based midstream services provider and its affiliates’ history dates back to 1992 when Jon Jasper formed its predecessor company, Engineering, Procurement and Construction (EPC). The Jasper family of companies currently includes Veritas Gas Processing, Vulcan Field Construction, Vanguard Processing Solutions and Viking Dew Point Conditioning.
“We are 100% family-owned with no financial partners—that definitely helps our financial position,” Jasper told Hart Energy’s Jessica Morales in a recent interview. “Then we get to make all of the decisions that are important for company survival in times like this.”
As part of an effort to provide its customers in the midstream business more comprehensive services, EPC was restructured in 2016 into the current Jasper Ventures family of companies.
“Jasper Ventures has been involved primarily in installing gas processing facilities and we do that through two of our main operating companies,” Jasper said. “We also have plant operating services and then we have a fleet of MRUs (mechanical refrigeration units) that we lease.”
As for the dual shock in 2020 of COVID-19 and a price collapse, Jasper said the company has been able to maintain a strong balance sheet so far this year.
“From a cash flow standpoint, the first half of the year was not terrible,” he said. “We were completing a back-log of projects through the first and second quarters that we had built up in 2019.”
“The second half of the year is going to be much tougher for us than the first, as it is for a lot of companies,” he continued. “In early March, most of our prospects were indefinitely placed on hold and we had quite a few things on the horizon at the time. So, our business really literally changed overnight.”
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