Services Utilized Throughout the Life of a Well

 

NEW YORK, New York - Lincolnshire Management, Inc., a leading middle-market private equity firm, today announced the acquisition of Cutters Wireline Service, Inc. (“Cutters”), a leading provider of cased hole wireline services to natural gas and oil exploration and production (E&P) companies in the Rocky Mountain region.  This transaction is Lincolnshire’s second in the E&P services industry in the last year.  Terms were not disclosed.

 

Based in Vernal, Utah and founded in 1988, Cutters performs cased hole electric wireline services that are critical throughout the life of a well, including logging, perforation, mechanical services and plug and abandonment.  The company utilizes measurement instruments and tools attached to armored cables that are lowered into the well shaft to log and evaluate downhole conditions, to perforate the well pipe and casing to enhance flow, and to recover stuck piping from the shaft during the drilling process.

 

“Lincolnshire is pleased to acquire Cutters because of its strong operating performance and long-standing customer relationships in a region that is undergoing rapid development of its natural gas resources,” said George Henry, a Managing Director at Lincolnshire.  “The company’s experienced management team has earned a well-deserved reputation for the highest levels of service.”

 

“With the overall U.S. demand for natural gas continuing to outstrip domestic supply by large margins, we look forward to finding opportunities to meet the needs of our customers in other parts of the Rocky Mountain region,” said JayCee McCarley, President and CEO of Cutters Wireline Service.  “With help and support from Lincolnshire, we will expand our capacity to service rapidly growing demand in the region.”  McCarley will continue to lead the experienced management team in operating the business, and will maintain a significant equity stake.