Aly Energy Services, Inc. Announces Agreement to Acquire Evolution Guidance Systems Inc.
June 17 2014 - 9:29AM
Marketwired
Aly Energy Services, Inc. Announces Agreement to Acquire Evolution
Guidance Systems Inc.
HOUSTON, TX--(Marketwired - Jun 17, 2014) - Aly Energy Services,
Inc. (OTCQB: ALYE) announced today that it has signed a definitive
Purchase Agreement to acquire all the issued and outstanding stock
of Evolution Guidance Systems Inc., an operator of Measurement
While Drilling (MWD) downhole tools with advanced gamma technology
and technology to build a gamma imaging tool named Azimuthal
Gamma. Evolution Guidance Systems is currently owned by Thor
Eckmann and Henry Iwunze, who will remain with the company after
the acquisition is completed. The closing date for the
transaction is scheduled for July 1, 2014.
Mr. Iwunze has prior management and technical experience with
Archer Directional Drilling services, Pinpoint Drilling and
Directional services and Halliburton Energy Services fleet of
tools.
Mr. Eckmann most recently is a drilling superintendent, but has
served as a consulting and technical advisor for various Energy and
Directional Drilling companies. Mr. Eckmann has over 35 years
experience in the Oil and Gas industry.
Mr. Hidayatallah, Chairman and CEO of Aly Energy Services, Inc.
stated, "We invest in people and I could not be more excited about
having Evolution's leadership join the Aly team. We believe
that this is simply a first step for Aly to provide full
directional drilling packages including MWD kits to our
customers. Horizontal and Directional drilling are
increasingly important services in the technology of shale
drilling. It is our intention always to be on the cutting edge
of technology with both the equipment and the operators we provide
to our customers."
About Aly Energy Services, Inc. ALYE, through its subsidiaries
Aly Operating, Inc., Austin Chalk Petroleum Services Corp. and Aly
Centrifuge provides equipment and services including surface rental
equipment for mud delivery, solids control, fluid management and
roustabout services responsible for delivering equipment and rig-up
on well sites. ALYE has operating yards in Giddings, Texas,
San Angelo, Texas, Dilley, Texas and Celina, Texas from which ALYE
services the Eagle Ford shale, and the Permian Basin, as well as
other strategic fields. ALYE's primary products include mud
circulating tanks (400 and 500 barrel capacity), mud pumps (diesel
and electric), oil skimming systems, secondary containment systems
and stairs, mud mixing plants, centrifuge units and
shakers. ALYE fabricates several of its products in-house.
Alya Hidayatallah CFO 713-333-4000
Aly Energy Services (GM) (USOTC:ALYE)
Historical Stock Chart
From Jun 2024 to Jul 2024
Aly Energy Services (GM) (USOTC:ALYE)
Historical Stock Chart
From Jul 2023 to Jul 2024