DUNBAR, W.Va. -- A Dallas, Texas, company has purchased Meeks Wireline Services Inc., an oil well and natural gas field services company headquartered at 1141 Grosscup Ave., Dunbar.
J-W Operating Co. of Dallas said it bought Meeks Wireline in an all-cash transaction. The price tag was not disclosed.
The Dallas company has a variety of energy-related businesses ranging from well services to the largest privately owned compression fleet in the United States. J-W Operating said Meeks Wireline has become a part of its J-W Wireline Co. subsidiary.
Wireline companies provide oil and gas well logging, perforating and pipe recovery services. Logging a well involves hooking a computer-based tool onto a spool of wire rope known in the trade as a "wireline," which is lowered into a well to take readings of formations, gas pockets and the cement around well casings.
Perforating involves a using a special gun filled with explosive shot that is lowered in a well and set off to blow holes in a pipe and penetrate rock formations, allowing gas to escape up the well. Pipe recovery involves freeing pipe that gets stuck during the drilling process.
The deal gives J-W Operating its first wireline services presence in the Appalachian Basin, although several other J-W Operating subsidiaries already operate in West Virginia.
J-W Operating's purchase of Meeks Wireline continues a recent trend whereby some of the biggest companies in the natural gas business have begun showing up in West Virginia. Oklahoma City-based Chesapeake Energy Corp. bought Columbia Natural Resources for $2.2 billion in 2005 and instantly became the largest natural gas exploration and production company in the state. On July 1 XTO Energy, headquartered in Fort Worth, Texas, bought Linn Energy's oil and gas properties in the Appalachian Basin for $600 million. That portion of Linn's business is based in Jane Lew.
The 50 employees who formerly worked for Meeks Wireline now work for J-W Wireline. Those employees include Jim "Bigun" Meeks, who established Meeks Wireline Services in 1996, and numerous members of the Meeks family.
DUNBAR, W.Va. -- A Dallas, Texas, company has purchased Meeks Wireline Services Inc., an oil well and natural gas field services company headquartered at 1141 Grosscup Ave., Dunbar.
J-W Operating Co. of Dallas said it bought Meeks Wireline in an all-cash transaction. The price tag was not disclosed.
The Dallas company has a variety of energy-related businesses ranging from well services to the largest privately owned compression fleet in the United States. J-W Operating said Meeks Wireline has become a part of its J-W Wireline Co. subsidiary.
Wireline companies provide oil and gas well logging, perforating and pipe recovery services. Logging a well involves hooking a computer-based tool onto a spool of wire rope known in the trade as a "wireline," which is lowered into a well to take readings of formations, gas pockets and the cement around well casings.
Perforating involves a using a special gun filled with explosive shot that is lowered in a well and set off to blow holes in a pipe and penetrate rock formations, allowing gas to escape up the well. Pipe recovery involves freeing pipe that gets stuck during the drilling process.
The deal gives J-W Operating its first wireline services presence in the Appalachian Basin, although several other J-W Operating subsidiaries already operate in West Virginia.
J-W Operating's purchase of Meeks Wireline continues a recent trend whereby some of the biggest companies in the natural gas business have begun showing up in West Virginia. Oklahoma City-based Chesapeake Energy Corp. bought Columbia Natural Resources for $2.2 billion in 2005 and instantly became the largest natural gas exploration and production company in the state. On July 1 XTO Energy, headquartered in Fort Worth, Texas, bought Linn Energy's oil and gas properties in the Appalachian Basin for $600 million. That portion of Linn's business is based in Jane Lew.
The 50 employees who formerly worked for Meeks Wireline now work for J-W Wireline. Those employees include Jim "Bigun" Meeks, who established Meeks Wireline Services in 1996, and numerous members of the Meeks family.
Jim Meeks is regarded as one of the best pipe-recovery specialists in the world. He got his start in the wireline field in 1978 with McCollough, now known as Baker Atlas. He has worked in almost every state and offshore Louisiana, Mexico, Rhode Island and New Jersey.
Meeks' wife, Jean, has been the company's chief administrative officer, and son Jimmy is the company's Appalachian Basin safety director.
Another son, Justin, works for Meeks Directional Services, which is not part of the deal. Meeks Directional Services, established in 2007, provides steering tools and services for directional drilling on horizontal wells.
The deal involves 11 trucks that are stationed in Weston and Hager Hill, Ky.
Paul Westerman, chief operating officer of J-W Operating Co., said in a prepared statement, "Meeks Wireline Services is a great addition for J-W Wireline Co. We could not be more pleased that Meeks has decided to partner with us.
"Meeks' reputation for service and quality and its experienced and well-trained staff make this company a perfect fit for us," Westerman said. "J-W Wireline Co. has been able to grow and expand precisely because we have been able to team up with great companies such as Meeks. This acquisition will certainly give J-W Wireline Co. a strong presence in the rapidly developing shale plays. Further expansion is certainly a possibility."
Jim Meeks, founder of Meeks Wireline, said in a prepared statement, "We have had several opportunities to partner with other companies but we feel that J-W Wireline Co. offers the best chance for us to continue and expand our ability to take care of our customers."
Andy Weaver, president of J-W Wireline Co., said in a prepared statement, "We are eager to work with the personnel at Meeks Wireline Services to expand their service capabilities with the addition of new equipment and a broader line of services."
