Press Releases
Posted December 5, 2019

W&W Energy Services Has Been Acquired by Petrofac Limited

Energy, Power & Infrastructure
Transaction Type
Mergers & Acquisitions,
Cross-Border Transactions
Odessa, Texas

HOUSTON, December 5, 2019 — GulfStar Group (“GulfStar”) is pleased to announce the acquisition of W&W Energy Services, Inc. (“W&W” or the “Company”) by Petrofac Limited (“Petrofac”). GulfStar served as the exclusive financial advisor to W&W throughout the transaction, which closed on October 29, 2019.

W&W is a leading provider of production infrastructure-related services to oil and gas producers operating in the Permian Basin. The Company operates through two primary divisions: (1) Maintenance, Repair and Overhaul (“MRO”) services and (2) Pipeline Installation and Maintenance.

W&W’s MRO division provides in-the-field, routine maintenance, monitoring, and inspection of production-related equipment, well-sites and pipelines that is required throughout the entire life cycle of a well. Additionally, W&W’s MRO division provides production facility construction, including the installation of tank batteries and compressor stations as well as their routine upgrades and expansions.

The Company’s Pipeline division installs flexible and polyethylene pipelines, primarily for oil and gas gathering projects, well hookups and water transportation. Additionally, the Pipeline division provides ongoing retrofitting and maintenance services.

W&W is headquartered in Odessa, Texas with additional facilities in Midland, TX, Monahans, TX and Carlsbad, NM.

W&W will join Petrofac’s Engineering and Production Services (“EPS”) division and will continue to be led by its current management team with additional support from Petrofac’s Houston office.

“We are excited to join Petrofac and become part of the growth plans for its EPS Division,” said Jason Waters, President of W&W. “We see significant opportunity to leverage Petrofac’s wide service offerings and its broad client relationships, which will benefit our customers and employees as the Company further strengthens its position in the market.”

“We are very pleased to have had the opportunity to work with W&W and the Waters family on this important transaction,” said Brian Lobo, Managing Director of GulfStar. “The acquisition of W&W is a significant expansion of Petrofac’s U.S. presence and serves as a well-established platform for growth in the broader U.S. onshore energy market. W&W’s maintenance and construction capabilities combined with Petrofac’s engineering and procurement knowledge creates a uniquely qualified business, offering Permian producers a one-stop solution for both the maintenance and expansion of their production infrastructure.”

The GulfStar team was led by Managing Director Brian Lobo along with Senior Vice President Ben Stanton, Associates Alex Pette and Sarah Wilson, and Analyst Andrew Winters.

About Petrofac Limited
Petrofac is a leading international service provider to the oil and gas production and processing industry, with a diverse client portfolio including many of the world’s leading integrated, independent and national oil and gas companies. Petrofac designs and builds oil and gas facilities; operates, maintains and manages facilities and trains personnel; enhances production; and, where it can leverage its service capability, develops and co-invests in upstream and infrastructure projects. Petrofac’s range of services meets its clients’ needs across the full life cycle of oil and gas assets. With around 11,250 employees, Petrofac operates out of seven strategically located operational centres, in Aberdeen, Sharjah, Abu Dhabi, Woking, Chennai, Mumbai and Kuala Lumpur and has a further 24 offices worldwide. Petrofac is quoted on the London Stock Exchange (symbol: PFC).

About GulfStar Group
GulfStar is a leading middle market investment bank headquartered in Houston. GulfStar specializes in providing merger and acquisition advisory services, institutional private placements of equity and debt, and general corporate finance advisory services to companies with revenues or enterprise values generally ranging from $25 million to $350 million. Since its formation in 1990, GulfStar has completed more than 680 transactions in 35 states and 16 foreign countries across a variety of industries.

GulfStar Group
700 Louisiana Street
Suite 3800
Houston, Texas 77002


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