SCANDRILL INC. (“Scandrill”), celebrating over 42 years in business, and VYGR Holdings, LLC (“VYGR Holdings”) who controlled drilling assets from SPN Well Services, Inc. (the former owner of Felderhoff Brothers Drilling Company) and JDC Drilling Company, LLC, both Texas based onshore drilling contractors, wish to announce the merger of their companies, effective December 20, 2019. VYGR Holdings is a company held by affiliates of White Oak Global Advisors, LLC (“White Oak”). The merged business will be operated under the Scandrill brand and will service the needs of the customers of the combined companies without interruption.
“Together with these assets, we have combined our respective businesses to create a single onshore drilling contractor with 31 land rigs. And, to have found the right partners, with the right assets, at the right time, creates opportunities across our space for growth and stability” explains Torrey Mosvold, President of Scandrill. Core to this strategic consolidation is the sharing of compatible rigs, service providers, and high profile customers in Texas, Oklahoma, Louisiana, and New Mexico that positions Scandrill to seize more opportunities.
Scandrill will continue to provide land contract drilling services to independent and major oil and gas exploration companies. The integration of the companies personnel will enhance the endeavor to innovate and provide their NORSEMAN I & II rig designed rigs with the latest technology to meet industry demands such as multi-well pads, long laterals, high pressure mud systems and well depths in excess of 30,000’. Scandrill is headquartered in Houston with operations offices in Tyler and Odessa, and is expanding its service offering with the inclusion of an operations office in Yukon, Oklahoma.
Scandrill was represented in the transaction by Griffin & Matthews, and Thompson & Knight LLP.