{"id":523510,"date":"2021-08-04T16:21:14","date_gmt":"2021-08-04T20:21:14","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/nextier-announces-agreement-to-acquire-alamo-pressure-pumping\/"},"modified":"2021-08-04T16:21:14","modified_gmt":"2021-08-04T20:21:14","slug":"nextier-announces-agreement-to-acquire-alamo-pressure-pumping","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/nextier-announces-agreement-to-acquire-alamo-pressure-pumping\/","title":{"rendered":"NexTier Announces Agreement to Acquire Alamo Pressure Pumping"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p \/>\n<p \/>\n<p \/>\n<p>\n        <span class=\"xn-location\">HOUSTON<\/span>, <span class=\"xn-chron\">Aug. 4, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0NexTier Oilfield Solutions Inc. (NYSE: NEX) (&#8220;NexTier&#8221; or the &#8220;Company&#8221;) today announced that it has reached an agreement to acquire 100% of the ownership interests of Alamo Pressure Pumping, LLC (&#8220;<span class=\"xn-location\">Alamo<\/span>&#8220;) for a transaction valuation of approximately <span class=\"xn-money\">$268 million<\/span>, as further described below. The transaction is expected to be completed by <span class=\"xn-chron\">August 31, 2021<\/span>, subject to customary closing conditions and approvals. <\/p>\n<p>\n        <b>Consolidating 2 leading providers of low carbon well completion solutions in the Permian Basin<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>Adds 9 highly utilized, primarily CAT Tier IV, young hydraulic fracturing fleets to NexTier&#8217;s asset base <\/li>\n<li>Fortifies NexTier as the leader in CAT Tier IV Dual Fuel technology <\/li>\n<li>Enables accelerated access to tight and growing next generation market without adding market capacity <\/li>\n<li>Accelerates path to positive free cash flow generation at attractive purchase multiple <\/li>\n<li>Expects to capture minimum <span class=\"xn-money\">$10 million<\/span> annualized cost synergies within 6 months of closing <\/li>\n<li>Provides significant pull-through opportunities via established integrated completions offering <\/li>\n<li>Maintains strong and flexible balance sheet with <span class=\"xn-money\">$272 million<\/span> estimated pro-forma liquidity and no near-term debt maturities <\/li>\n<li>Retains <span class=\"xn-location\">Alamo&#8217;s<\/span> key leadership &amp; current operational teams intact with Alamo CEO reporting directly to NexTier CEO <\/li>\n<li>Aligns with low-cost, low-carbon ESG strategy and advances NexTier&#8217;s sustainability journey<\/li>\n<\/ul>\n<p>\n        <b>Management Commentary<\/b>\n      <\/p>\n<p>&#8220;The acquisition of <span class=\"xn-location\">Alamo<\/span> 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,&#8221; said <span class=\"xn-person\">Robert Drummond<\/span>, President &amp; Chief Executive Officer of NexTier. &#8220;Combined, we will operate the third largest base of active hydraulic horsepower across the U.S. and the largest base of next generation equipment in the Permian, improving our scale with highly-utilized fleets for an efficient customer base. We are impressed with <span class=\"xn-location\">Alamo&#8217;s<\/span> performance and their successful track record in the <span class=\"xn-location\">Midland<\/span> basin. Therefore, other than enhancement by our last-mile logistics, NexHub and digital tools, operational integration will be minimal. <span class=\"xn-person\">Joe McKie<\/span>, the Alamo President and CEO, will continue to lead the <span class=\"xn-location\">Alamo<\/span> division of NexTier and report directly to me.&#8221; <\/p>\n<p>&#8220;NexTier remains focused on maintaining a strong financial position with attractive cash, liquidity, and leverage positions,&#8221; said <span class=\"xn-person\">Kenny Pucheu<\/span>, Executive Vice President and Chief Financial Officer of NexTier. &#8220;Today&#8217;s acquisition accelerates our path to free cash flow generation in early 2022. With no near-term debt maturities, we expect to drive cash flow back onto the balance sheet through expanded Tier IV Dual Fuel capacity and anticipated higher utilization.\u00a0 This transaction is a win-win, as it immediately expands our gas-powered equipment capacity, accelerating speed to market by avoiding the significant time lag associated with organically growing our low carbon fleet, with added benefit of not increasing market capacity. In sum, we are acquiring a highly utilized base of next generation equipment at an attractive relative valuation, upholding our commitment to delivering value to shareholders.&#8221; <\/p>\n<p>\n        <b>Alamo Pressure Pumping Overview<\/b>\n      <\/p>\n<p>\n        <span class=\"xn-location\">Alamo<\/span>, founded in 2017 and headquartered in <span class=\"xn-location\">Midland, Texas<\/span>, is a leading Permian pressure pumper based on next generation horsepower and active fleets. Acquired assets include 9 hydraulic fracturing fleets comprised of 460,000 horsepower, approximately 92% of which is Tier IV DGB capable. <span class=\"xn-location\">Alamo<\/span> operates exclusively in the Permian Basin and primarily out of <span class=\"xn-location\">Midland<\/span>. <span class=\"xn-location\">Alamo<\/span> achieved <span class=\"xn-money\">$68 million<\/span> of EBITDA in 2020<sup>i<\/sup>.<\/p>\n<p>\n        <b>Transaction Details<\/b>\n      <\/p>\n<p>The transaction valuation is approximately <span class=\"xn-money\">$268 million<\/span>, which includes (i) cash consideration of <span class=\"xn-money\">$100 million<\/span> (ii) the issuance of 26 million shares of NexTier&#8217;s common stock, (iii) the assumption by the Company of certain existing liabilities, including <span class=\"xn-money\">$38 million<\/span> of equipment obligations, and (iv) <span class=\"xn-money\">$30 million<\/span> of post-closing services to be provided to Alamo E&amp;P. The Purchase Agreement also provides for (a) potential earn-out payments, payable in the event <span class=\"xn-location\">Alamo<\/span> achieves certain EBITDA levels through year-end 2022, (b) Tier II equipment upgrade payments (determinable following completion of upgrades), and (c) various purchase price adjustments. The common stock issuable as part of the closing reflects an ownership by sellers of approximately 10.7% of the pro-forma Company, and is subject to certain lock-up provisions. <\/p>\n<p>The transaction valuation of approximately <span class=\"xn-money\">$268 million<\/span> reflects approximately <span class=\"xn-money\">$582<\/span> per horsepower for 460,000 horsepower of primarily next-gen equipment. In addition, assuming <span class=\"xn-money\">$80 million<\/span> of <span class=\"xn-location\">Alamo<\/span> achieved EBITDA in 2022<sup>i<\/sup>, reflecting the threshold for earn-out payments to occur, the transaction valuation reflects an estimated multiple of approximately 3.4x. <\/p>\n<p>For further details on the transaction terms, see NexTier&#8217;s Current Report on Form 8-K filed today with the SEC.<\/p>\n<p>\n        <b>Transaction &amp; Combined Company Highlights<\/b>\n      <\/p>\n<p>Combined, NexTier will own 46 hydraulic fracturing fleets totaling approximately 2.5 million horsepower, with the largest deployed fleet capable of being fueled by low-emission natural gas in the market today. The addition of <span class=\"xn-location\">Alamo&#8217;s<\/span> highly utilized next generation focused fleets fortifies NexTier&#8217;s leadership position in this market niche where demand continues to outpace supply. <\/p>\n<p>\n        <span class=\"xn-location\">Alamo&#8217;s<\/span> focus on the <span class=\"xn-location\">Midland<\/span> Basin is highly complementary to NexTier&#8217;s significant position in the <span class=\"xn-location\">Delaware<\/span> Basin, providing intra-basin diversification and establishing NexTier as a leading completions provider in one of the most prolific basins in the world. On a combined basis, NexTier expects to operate 17 hydraulic fracturing fleets in the Permian Basin post-closing. <\/p>\n<p>The Company forecasts <span class=\"xn-money\">$10 million<\/span> of annualized cost synergies to be achieved within 6 months of transaction closing. <span class=\"xn-location\">Alamo&#8217;s<\/span> CAT Tier IV equipment, streamlined operations, and single-basin focus are highly compatible with NexTier and allows for seamless integration into NexTier&#8217;s platform. <span class=\"xn-location\">Alamo<\/span> has a highly complementary customer base with limited overlap, enabling the expansion of NexTier&#8217;s integrated completions solutions. Pro-forma for the closing cash portion of the purchase price, NexTier maintains a strong balance sheet position, including estimated <span class=\"xn-money\">$272 million<\/span> of total liquidity as of <span class=\"xn-chron\">June 30, 2021<\/span>, comprised of <span class=\"xn-money\">$250.4 million<\/span> in cash plus <span class=\"xn-money\">$121.6 million<\/span> of availability under our ABL credit facility as of <span class=\"xn-chron\">June 30, 2021<\/span>, less the <span class=\"xn-money\">$100 million<\/span> in cash to be paid at closing, and no near-term debt maturities.<\/p>\n<p>\n        <b>Advisors<\/b>\n      <\/p>\n<p>King &amp; Spalding LLP is serving as NexTier&#8217;s legal advisor, while <span class=\"xn-person\">Piper Sandler<\/span> &amp; Co. is serving as its financial advisor. Kirkland &amp; Ellis LLP is serving as legal advisor to <span class=\"xn-location\">Alamo<\/span>.<\/p>\n<p>\n        <b>About NexTier Oilfield Solutions<\/b>\n      <\/p>\n<p>Headquartered in <span class=\"xn-location\">Houston, Texas<\/span>, NexTier is an industry-leading U.S. land oilfield service company, with a diverse set of well completion and production services across the most active and demanding basins.\u00a0 Our integrated solutions approach delivers efficiency today, and our ongoing commitment to innovation helps our customers better address what is coming next.\u00a0 NexTier is differentiated through four points of distinction, including safety performance, efficiency, partnership and innovation.\u00a0 At NexTier, we believe in living our core values from the basin to the boardroom, and helping customers win by safely unlocking affordable, reliable and plentiful sources of energy.<\/p>\n<p>\n        <b>Forward-Looking Statements<\/b>\n      <\/p>\n<p>This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties and are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1993, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. The words &#8220;believe,&#8221; &#8220;continue,&#8221; &#8220;could,&#8221; &#8220;expect,&#8221; &#8220;anticipate,&#8221; &#8220;intends,&#8221; &#8220;estimate,&#8221; &#8220;forecast,&#8221; &#8220;project,&#8221; &#8220;should,&#8221; &#8220;may,&#8221; &#8220;will,&#8221; &#8220;would&#8221; or the negative thereof and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company&#8217;s control. Statements in this press release regarding NexTier, <span class=\"xn-location\">Alamo<\/span> and the combined company that are forward-looking, including projections as to the Company&#8217;s 2021 guidance and outlook information,\u00a0 projections as to the anticipated benefits of the proposed transaction, the impact of the proposed transaction on NexTier&#8217;s and <span class=\"xn-location\">Alamo&#8217;s<\/span> business and future financial and operating results, the amount and timing of synergies from the proposed transaction, and the closing date for the proposed transaction, are based on management&#8217;s estimates, assumptions and projections, and are subject to significant uncertainties and other factors, many of which are beyond NexTier&#8217;s and <span class=\"xn-location\">Alamo&#8217;s<\/span> control. These factors and risks include, but are not limited to, (i) the competitive nature of the industry in which NexTier and <span class=\"xn-location\">Alamo<\/span> conduct their business, including pricing pressures; (ii) the ability to meet rapid demand shifts; (iii) the impact of pipeline capacity constraints and adverse weather conditions in oil or gas producing regions; (iv) the ability to obtain or renew customer contracts and changes in customer requirements in the markets NexTier and <span class=\"xn-location\">Alamo<\/span> serve; (v) the ability to identify, effect and integrate acquisitions, joint ventures or other transactions; (vi) the ability to protect and enforce intellectual property rights; (vii) the effect of environmental and other governmental regulations on NexTier and <span class=\"xn-location\">Alamo<\/span> operations; (viii) the effect of a loss of, or interruption in operations of, one or more key suppliers, including resulting from inflation, COVID-19 resurgence, product defects, recalls or suspensions; (ix) the variability of crude oil and natural gas commodity prices; (x) the market price (including inflation) and availability of materials or equipment; (xi) the ability to obtain permits, approvals and authorizations from governmental and third parties; (xii) NexTier&#8217;s and <span class=\"xn-location\">Alamo&#8217;s<\/span> ability to employ a sufficient number of skilled and qualified workers; (xiii) the level of, and obligations associated with, NexTier&#8217;s and <span class=\"xn-location\">Alamo&#8217;s<\/span> indebtedness; (xiv) fluctuations in the market price of NexTier&#8217;s stock; (xv) the duration (including resurgences), impact and severity of the COVID-19 pandemic and the response thereto, including the impact of social distancing, shelter-in-place or shutdowns of non-essential businesses and similar measures imposed or undertaken by governments, private businesses or others, and the possibility of increased inflation, travel restrictions, lodging shortages or other macro-economic challenges as the economy emerges from the COVID-19 pandemic; and (xv) other risk factors and additional information. In addition, material risks that could cause actual results to differ from forward-looking statements include: the inherent uncertainty associated with financial or other projections; the effective integration of <span class=\"xn-location\">Alamo&#8217;s<\/span> businesses and the ability to achieve the anticipated synergies and value-creation contemplated by the proposed transaction; and the timing of the closing of the proposed transaction, including the risk that the conditions to the transaction are not satisfied on a timely basis or at all and the failure of the transaction to close for any other reason; the risk that a consent or authorization that may be required for the proposed transaction is not obtained or is obtained subject to conditions that are not anticipated; unanticipated difficulties or expenditures relating to the transaction, the response or retention of customers and vendors as a result of the announcement and\/or closing of the transaction; and the diversion of management time on transaction-related issues. In addition, material risks that could cause actual results to differ from forward-looking statements include: the inherent uncertainty associated with financial or other projections; the effective integration of <span class=\"xn-location\">Alamo&#8217;s<\/span> businesses and the ability to achieve the anticipated synergies and value-creation contemplated by the proposed transaction; and the timing of the closing of the proposed transaction, including the risk that the conditions to the transaction are not satisfied on a timely basis or at all and the failure of the transaction to close for any other reason; the risk that a consent or authorization that may be required for the proposed transaction is not obtained or is obtained subject to conditions that are not anticipated; unanticipated difficulties or expenditures relating to the transaction, the response or retention of customers and vendors as a result of the announcement and\/or closing of the transaction; and the diversion of management time on transaction-related issues. For a more detailed discussion of such risks and other factors, see the Company&#8217;s filings with the Securities and Exchange Commission (the &#8220;SEC&#8221;), including under the heading &#8220;Risk Factors&#8221; in Item 1A of the Company&#8217;s Annual Report on Form 10-K for the fiscal year ended <span class=\"xn-chron\">December 31, 2020<\/span>, available on the SEC website or <a href=\"http:\/\/www.NexTierOFS.com\" rel=\"nofollow\">www.NexTierOFS.com<\/a>. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates, to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued &#8220;forward-looking statement&#8221; constitutes a reaffirmation of that statement.<\/p>\n<p>\n        <b>Investor Contact:<\/b>\n      <\/p>\n<p>\n        <span class=\"xn-person\">Kenneth Pucheu<\/span><br \/>\n        <br \/>Executive Vice President &#8211; Chief Financial Officer<\/p>\n<p>\n        <span class=\"xn-person\">Marc Silverberg<\/span><br \/>\n        <br \/>Partner (ICR)<br \/><a href=\"mailto:marc.silverberg@icrinc.com\" rel=\"nofollow\">marc.silverberg@icrinc.com<\/a><\/p>\n<p>\n        <sup>i <\/sup>Non-GAAP Financial Measures. This presentation makes reference to earnings before interest, income taxes, depreciation and amortization (EBITDA) in relation to the business NexTier is acquiring (<span class=\"xn-location\">Alamo<\/span>). <span class=\"xn-location\">Alamo<\/span> historical financial information: Audited 2020 consolidated financial statements were provided by seller as part of the transaction&#8217;s diligence. While these financials were prepared on a consolidated basis with the exploration and production business of the seller, EBITDA as to <span class=\"xn-location\">Alamo<\/span> refers only to the pressure pumping business that NexTier is acquiring. References to Alamo Achieved EBITDA in relation to discussions on earn-out, is referring to Achieved EBITDA as defined in the purchase agreement and related transaction documents. Reconciliations of forward-looking non-GAAP financial measures to comparable GAAP measures are not available due to the challenges and impracticability with estimating some of the items, particularly with estimates for certain contingent liabilities, and estimating non-cash unrealized fair value losses and gains which are subject to market variability and therefore a reconciliation is not available without unreasonable effort.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder4269\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1024404\/NexTier_Oilfield_Solutions_Logo.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1024404\/NexTier_Oilfield_Solutions_Logo.jpg\" title=\"NexTier Oilfield Solutions Logo (PRNewsfoto\/NexTier Oilfield Solutions)\" alt=\"NexTier Oilfield Solutions Logo (PRNewsfoto\/NexTier Oilfield Solutions)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder0\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=DA65282&amp;sd=2021-08-04\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/nextier-announces-agreement-to-acquire-alamo-pressure-pumping-301348633.html\">https:\/\/www.prnewswire.com\/news-releases\/nextier-announces-agreement-to-acquire-alamo-pressure-pumping-301348633.html<\/a><\/p>\n<p>SOURCE  NexTier Oilfield Solutions<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=DA65282&amp;Transmission_Id=202108041615PR_NEWS_USPR_____DA65282&amp;DateId=20210804\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire HOUSTON, Aug. 4, 2021 \/PRNewswire\/ &#8212;\u00a0NexTier Oilfield Solutions Inc. (NYSE: NEX) (&#8220;NexTier&#8221; or the &#8220;Company&#8221;) today announced that it has reached an agreement to acquire 100% of the ownership interests of Alamo Pressure Pumping, LLC (&#8220;Alamo&#8220;) for a transaction valuation of approximately $268 million, as further described below. The transaction is expected to be completed by August 31, 2021, subject to customary closing conditions and approvals. Consolidating 2 leading providers of low carbon well completion solutions in the Permian Basin Adds 9 highly utilized, primarily CAT Tier IV, young hydraulic fracturing fleets to NexTier&#8217;s asset base Fortifies NexTier as the leader in CAT Tier IV Dual Fuel technology Enables accelerated access to tight and growing next generation market &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/nextier-announces-agreement-to-acquire-alamo-pressure-pumping\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;NexTier Announces Agreement to Acquire Alamo Pressure Pumping&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-523510","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>NexTier Announces Agreement to Acquire Alamo Pressure Pumping - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/nextier-announces-agreement-to-acquire-alamo-pressure-pumping\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NexTier Announces Agreement to Acquire Alamo Pressure Pumping - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire HOUSTON, Aug. 4, 2021 \/PRNewswire\/ &#8212;\u00a0NexTier Oilfield Solutions Inc. (NYSE: NEX) (&#8220;NexTier&#8221; or the &#8220;Company&#8221;) today announced that it has reached an agreement to acquire 100% of the ownership interests of Alamo Pressure Pumping, LLC (&#8220;Alamo&#8220;) for a transaction valuation of approximately $268 million, as further described below. The transaction is expected to be completed by August 31, 2021, subject to customary closing conditions and approvals. Consolidating 2 leading providers of low carbon well completion solutions in the Permian Basin Adds 9 highly utilized, primarily CAT Tier IV, young hydraulic fracturing fleets to NexTier&#8217;s asset base Fortifies NexTier as the leader in CAT Tier IV Dual Fuel technology Enables accelerated access to tight and growing next generation market &hellip; Continue reading &quot;NexTier Announces Agreement to Acquire Alamo Pressure Pumping&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/nextier-announces-agreement-to-acquire-alamo-pressure-pumping\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-04T20:21:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/1024404\/NexTier_Oilfield_Solutions_Logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"11 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nextier-announces-agreement-to-acquire-alamo-pressure-pumping\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nextier-announces-agreement-to-acquire-alamo-pressure-pumping\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"NexTier Announces Agreement to Acquire Alamo Pressure Pumping\",\"datePublished\":\"2021-08-04T20:21:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nextier-announces-agreement-to-acquire-alamo-pressure-pumping\\\/\"},\"wordCount\":2216,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nextier-announces-agreement-to-acquire-alamo-pressure-pumping\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/1024404\\\/NexTier_Oilfield_Solutions_Logo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nextier-announces-agreement-to-acquire-alamo-pressure-pumping\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nextier-announces-agreement-to-acquire-alamo-pressure-pumping\\\/\",\"name\":\"NexTier Announces Agreement to Acquire Alamo Pressure Pumping - 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(NYSE: NEX) (&#8220;NexTier&#8221; or the &#8220;Company&#8221;) today announced that it has reached an agreement to acquire 100% of the ownership interests of Alamo Pressure Pumping, LLC (&#8220;Alamo&#8220;) for a transaction valuation of approximately $268 million, as further described below. The transaction is expected to be completed by August 31, 2021, subject to customary closing conditions and approvals. Consolidating 2 leading providers of low carbon well completion solutions in the Permian Basin Adds 9 highly utilized, primarily CAT Tier IV, young hydraulic fracturing fleets to NexTier&#8217;s asset base Fortifies NexTier as the leader in CAT Tier IV Dual Fuel technology Enables accelerated access to tight and growing next generation market &hellip; Continue reading \"NexTier Announces Agreement to Acquire Alamo Pressure Pumping\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/nextier-announces-agreement-to-acquire-alamo-pressure-pumping\/","og_site_name":"Market Newsdesk","article_published_time":"2021-08-04T20:21:14+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/1024404\/NexTier_Oilfield_Solutions_Logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"11 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/nextier-announces-agreement-to-acquire-alamo-pressure-pumping\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/nextier-announces-agreement-to-acquire-alamo-pressure-pumping\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"NexTier Announces Agreement to Acquire Alamo Pressure Pumping","datePublished":"2021-08-04T20:21:14+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/nextier-announces-agreement-to-acquire-alamo-pressure-pumping\/"},"wordCount":2216,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/nextier-announces-agreement-to-acquire-alamo-pressure-pumping\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/1024404\/NexTier_Oilfield_Solutions_Logo.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/nextier-announces-agreement-to-acquire-alamo-pressure-pumping\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/nextier-announces-agreement-to-acquire-alamo-pressure-pumping\/","name":"NexTier Announces Agreement to Acquire Alamo Pressure Pumping - 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