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Comments Off on Gas Field Services, LLC Announces Strategic Divestment
Gas Field Services, LLC, headquartered in Rosedale, Virginia, is pleased to announce the sale of its West Virginia based conventional well tending assets and production operations to Diversified Gas & Oil PLC (LSE: DGOC).
The sale is effective August 1, 2020 and includes all personnel, vehicles, equipment, and tools that were employed in the tending and related operation of most of DGOC’s shallow, conventional wells across West Virginia. The divestiture includes the transfer of over 50 highly skilled employees and the closing of Gas Field Service’s office in Beckley, West Virginia. Gas Field Services will retain and continue to offer water hauling and disposal services to Diversified and other customers at its disposal well located in Camp Creek, West Virginia.
The sale is another step in the execution of Gas Field Service’s strategy to become even more focused on providing water hauling and disposal services to the oil and gas exploration and production industry in northern West Virginia, southeast Ohio, and southwest Pennsylvania.
Tommy Shrader, President and Chief Executive Officer of Gas Field Services, commented:
“Gas Field Services has enjoyed our extensive working relationship with the DGO team, and we feel this transaction is a rare win-win for both companies. DGO is obtaining a very devoted and loyal workforce, one that values safety and compliance and one that is ready to step in and contribute to DGO’s growth on day one. At the same time, Gas Field will be able to increase focus on our growing water hauling and disposal services to the Marcellus and Utica Shale industry. I want to thank the impacted employees for their dedication and service to Gas Field Services and wish them nothing but continued success at Diversified Gas & Oil.”
Stay tuned for some additional big news from Gas Field Services soon!
Comments Off on Our response to Covid19
UPDATE: CORPORATE OFFICE REOPENED 06.01.20
We have decided to close our Corporate office in Rosedale, VA effective March 15, 2020 — and instruct our team to work remotely. We support the proactive, preventative measures being taken by state and local governments and other public and private entities to mitigate against community spread in our region and will do our part. At the same time, we will continue to conduct business as usual at Gas Field. That includes providing all support necessary to you and your teams on this and other critical matters.
Given the current data, it is reasonable to assume that heightened attention to personal hygiene and disinfection together with “social distancing” will be necessary to reduce the rate of spread of COVID, which appears to be geometric at this time.
What does all this mean for us? First, we each have a role to play in addressing this pandemic. Certainly, practicing intense personal hygiene protocols and asking everyone in your organization to do the same is critical. In addition,
we believe that NOW is the time to engage in practical “social distancing” in a fashion that enables business continuity but materially reduces the number and frequency of human interaction. In our previous correspondence, we talked about severe limitations on travel and on who may enter your facilities. We believe NOW is the time to take the next step: take action to reduce person-to-person physical interaction among your associates. While each company and each facility within each company has its own constraints regarding how much “social distancing” can actually be implemented while sustaining operations, we recommend that you seriously consider each of the following:
Consider asking all associates who can work from home to do so, inclusive of office workers, salespeople, engineers and other administrators.
Consider revisions to shift scheduling and staffing.
Consider organizing breaks in a manner that minimizes social interaction.
Consider what can be done to minimize the number of associates who use mass transit or car pooling to get to and from work.
Eliminate all non-essential meetings.
While there are practical limits to how much social distancing can be practiced in a production environment, the experts advise that EVERY action that reduces interaction is helpful.
Comments Off on Gas Field Services, LLC Announces Strategic Acquisition