The company has planned to expand into the Haynesville shale area of Louisiana and the Marcellus shale area of Pennsylvania and New York. Currently, it generates approximately $1,000,000 in annual revenue.
The company has a Master Services Agreement (MSA) with one of the independent oil and gas producers in the US. The company said that the MSA presents the company with excellent expansion opportunities in various markets where this customer operates.
Crosslands Energy added that this potential transaction represents the first step in the company’s plans to grow through synergistic acquisitions in the energy services industry. It most likely will be structured as an all stock transaction contingent upon providing a capital infusion for expansion.
