Blackeagle Energy Services Acquires Assets Of Polaris Drilling, Inc.

BERTHOUD, Colo., Feb. 18, 2015 /PRNewswire/ -- Blackeagle Energy Services, a leader in oil and gas construction and fabrication, announced today that it has purchased the assets of Polaris Drilling, Inc., a company specializing in directional drilling, to expand its capabilities and better serve its customers' requirements.

The acquisition of Polaris Drilling, based in Loma, Colo., and its expertise in trenchless underground utility construction, complements Blackeagle's extensive capabilities in pipeline, facility, maintenance, and fabrication services.

"We look forward to working with the talented Polaris management team and employees," said Rick Barrett, President of Blackeagle. "We have worked hard to facilitate this acquisition because we understand the tremendous value it brings to our customers. [It] is one of many steps we have taken to reduce costs while adding value for our clients."

The new company, will operate under the name Polaris Drilling and be led by Jeramy Wulkan the company's former President and owner. Wulkan added,"We are excited to jointly grow our businesses while continuing to serve our existing customers throughout the Rocky Mountain region."

In 2014 Blackeagle added an additional 50,000 square feet of fabrication space in Fort Collins, Colo. and a field operations center in Wright, Wyo. The acquisition allows Blackeagle to accelerate growth and strengthen its position as an industry leader, even as the oil and gas industry faces declining oil prices and uncertainty. The purchase of Polaris Drilling will also enable Blackeagle to expand its footprint into the Uinta and Piceance basins of Eastern Utah and Western Colorado, while simultaneously pursuing additional business opportunities in other regions.

"We will continue to look for growth opportunities during the current downturn. The deep financial resources of our parent company and superior safety, quality and efficiency sets us apart from our competitors and allows us to meet our customer's budgetary goals in the current low oil and gas price environment," Barrett said.

About Blackeagle Energy Services
Blackeagle Energy Services is a Colorado-based provider of comprehensive services to energy companies in the Rocky Mountain region since 1987, Blackeagle's mission has been to provide a variety of field service and fabrication solutions to all energy companies, with an emphasis on safety, quality and efficiency. Visit: www.blackegl.com.

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SOURCE Blackeagle Energy Services

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