— Strategic Purchase of Growing Oil Field Services Company Actively Serving the SCOOP/STACK — AUSTIN, Texas, Aug. 02, 2018 (GLOBE NEWSWIRE) — Victory Oilfield Tech, Inc. (OTCQB:VYEY) (“Victory” or the “Company”), today announced that it has acquired Oklahoma based oilfield service company Pro-Tech Hardbanding Services, Inc. (“Pro-Tech”). Pro-Tech is on an active growth curve and is expected to generate $2 million of gross revenue this year, which, if achieved, will reflect an increase in revenue from last year. The Pro-Tech acquisition is just one part of Victory’s plan to acquire and grow strategic oilfield services companies in the major oil and gas basins of the United States. Pro-Tech is one of the leading Oklahoma suppliers of the Armacor® MStar amorphous metal hardbanding product line and is well known in the region for its commitment to high quality products and exceptional service. The acquisition allows Victory to more rapidly deliver value to its customers and grow market share for its unique amorphous metal coated product offerings. These products are being designed to reduce overall drag in wellbore curves and laterals to increase the speed of drilling and extend the reach of the rig to enhance well economics. Kenny Hill, Victory’s Chief Executive… Read full this story
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