Freedom Well Testing Joins Azure Holding Group ($AZRH) in Strategic Merger
Azure Holding Group Corp. (OTC PINK:AZRH) has completed a strategic merger with Freedom Well Testing (FWT), acquiring 100% of FWT's business in an all-stock exchange. FWT, a 5-year-old oilfield services company, reported $24.1M in revenue for 2023 and expects over $10M for 2024. The company projects revenue growth to $18M by 2025. FWT specializes in Flowback and Production services in the Permian Basin, Delaware Basin, and Eagleford Shale. The company maintains a zero TRIR safety record and offers services including Toe Prep, Frac Assist, Drill Out, Well Testing, Sand Management, Production, and Lease Operator services.
Azure Holding Group Corp. (OTC PINK:AZRH) ha completato una fusione strategica con Freedom Well Testing (FWT), acquisendo il 100% delle attività di FWT in uno scambio interamente azionario. FWT, un'azienda di servizi petroliferi di 5 anni, ha registrato 24,1 milioni di dollari di fatturato nel 2023 e si aspetta oltre 10 milioni di dollari per il 2024. L'azienda prevede una crescita dei ricavi fino a 18 milioni di dollari entro il 2025. FWT è specializzata in servizi di Flowback e Produzione nel Bacino di Permiano, nel Bacino del Delaware e nello Shale di Eagleford. L'azienda mantiene un record di sicurezza con zero TRIR e offre servizi tra cui Toe Prep, Frac Assist, Drill Out, Well Testing, Sand Management, Produzione e servizi Lease Operator.
Azure Holding Group Corp. (OTC PINK:AZRH) ha completado una fusión estratégica con Freedom Well Testing (FWT), adquiriendo el 100% de las operaciones de FWT en un intercambio completamente de acciones. FWT, una empresa de servicios de campo petrolero de 5 años, reportó $24.1 millones en ingresos para 2023 y espera más de $10 millones para 2024. La compañía proyecta un crecimiento de ingresos a $18 millones para 2025. FWT se especializa en servicios de Flowback y Producción en la Cuenca de Permian, Cuenca de Delaware y Eagleford Shale. La empresa mantiene un récord de seguridad de cero TRIR y ofrece servicios, incluyendo Toe Prep, Frac Assist, Drill Out, Well Testing, Sand Management, Producción y servicios de Lease Operator.
Azure Holding Group Corp. (OTC PINK:AZRH)가 Freedom Well Testing (FWT)와 전략적 합병을 완료하고, FWT의 사업 100%를 주식 교환으로 인수했습니다. 5년 된 유전 서비스 회사인 FWT는 2023년에 2410만 달러의 수익을 기록했으며 2024년에는 1000만 달러 이상을 예상합니다. 이 회사는 2025년까지 1800만 달러의 수익 성장을 전망하고 있습니다. FWT는 Permian Basin, Delaware Basin, Eagleford Shale에서 Flowback 및 Production 서비스에 특화되어 있습니다. 이 회사는 TRIR 무사고 기록을 유지하고 있으며 Toe Prep, Frac Assist, Drill Out, Well Testing, Sand Management, Production 및 Lease Operator 서비스와 같은 서비스를 제공합니다.
Azure Holding Group Corp. (OTC PINK:AZRH) a finalisé une fusion stratégique avec Freedom Well Testing (FWT), acquérant 100% des activités de FWT dans un échange entièrement en actions. FWT, une entreprise de services pétroliers âgée de 5 ans, a déclaré 24,1 millions de dollars de revenus pour 2023 et prévoit plus de 10 millions de dollars pour 2024. La société projette une croissance des revenus atteignant 18 millions de dollars d'ici 2025. FWT est spécialisée dans les services de Flowback et de Production dans le bassin du Permien, le bassin du Delaware et le schiste d'Eagleford. L'entreprise maintient un bilan de sécurité avec un taux TRIR de zéro et propose des services tels que Toe Prep, Frac Assist, Drill Out, Well Testing, Sand Management, Production et des services d'Opérateur de Bail.
Azure Holding Group Corp. (OTC PINK:AZRH) hat eine strategische Fusion mit Freedom Well Testing (FWT) abgeschlossen und 100% des Geschäfts von FWT in einem reinen Aktienaustausch übernommen. FWT, ein 5 Jahre altes Unternehmen für Ölservice, meldete 24,1 Millionen Dollar Umsatz für 2023 und erwartet über 10 Millionen Dollar für 2024. Das Unternehmen prognostiziert ein Umsatzwachstum auf 18 Millionen Dollar bis 2025. FWT ist auf Flowback- und Produktionsdienstleistungen im Permian Basin, Delaware Basin und Eagleford Shale spezialisiert. Das Unternehmen hat eine Sicherheitsbilanz von null TRIR und bietet Dienstleistungen wie Toe Prep, Frac Assist, Drill Out, Well Testing, Sand Management, Produktion und Lease Operator-Dienstleistungen an.
- FWT reported strong revenue of $24.1M in 2023
- Company projects revenue recovery to $18M by 2025
- Maintains perfect safety record with zero TRIR
- Strategic expansion into major oil & gas basins
- All-stock transaction preserves cash resources
- Revenue decline to $10M expected in 2024
- Financial statements are currently unaudited
- Election year impact affecting revenue performance
WEATHERFORD, TX / ACCESSWIRE / November 27, 2024 / Azure Holding Group Corp. (OTC PINK:AZRH, being renamed American Industries) and Freedom Well Testing ("FWT") have officially completed a strategic merger, integrating FWT's full business operations into AZRH. The merger, finalized on November 25, 2024, merged
Freedom Well Testing, a 5 year old oilfield services company, brings extensive expertise in providing Flowback and Production services to Major Oil & Gas Operators in the Permian Basin, the Delaware Basin and the Eagleford Shale. The companies plan to pursue further joint ventures and acquisitions in the coming months.
Freedom Well Testing
Freedom Well Testing was found on the following 3 key principles: Honesty, integrity & experience.
Founded in 2019, by Eric Kuritz and Josh Watson, Freedom Well Testing brings 20+ years of proven experience into the oil and gas industry. Eric & Josh have managed upwards of 120 oil & gas professionals on projects that set records for oil production and management of sand returns.
At Freedom Well Testing, we understand the importance of safety and environmental responsibility. That's why we adhere to strict safety protocols and environmental regulations, and we are constantly investing in innovative technologies and practices to minimize our environmental impact. We believe that it's our responsibility to protect the environment and the communities where we operate.
Since opening for operation, we have maintained a TRIR of Zero (0). Our professional, detail-oriented employees ensure Freedom Well Testing carries a reputable name within the oil and gas industry, and maintain our commitment to achieve zero incidents involving injury or spills. We desire to become the best, most efficient, knowledgeable workforce in the industry.
Freedom Well Testing's areas of expertise include: Toe Prep, Frac Assist, Drill Out, Well Testing, Sand Management, Production, Lease Operator.
Marcus Laun advised Controlled Investments, a capital investment firm led by Josh Cohen that has raised
For More Details, Please see media details
Company Name: $AZRH / American Industries
Contact Person: Josh Cohen
Josh@controlleddev.com
Website link: www.oilfieldservices.ai
City: New York
State: NY
Company Name: Freedom Well Testing
Contact Person: Josh Watson
Contact Email: jwatson@freedomwelltest.com
Website link: www.freedomwelltest.com
City: Weatherford
State: Texas
SOURCE: Azure Holding Group Corp.
View the original press release on accesswire.com
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