October 20, 2017 5:21 AM ET

Energy Equipment and Services

Company Overview of Diverse Energy Systems, LLC

Company Overview

Diverse Energy Systems, LLC manufactures and sells products and equipment, and provides field operation services to oil and natural gas markets in the United States and internationally. The company offers production equipment from wellbores to pipelines that include vapor recovery units; FlowFast Jet Pumps for artificial lift; power generation systems; PDQ lease automatic custody transfer (LACT) units for measuring the volume of crude oil and petroleum products; pump systems; steel and bullet storage tanks; and steam generators. It also provides heater treaters and treater buildings; shell and tube exchangers, air fin exchangers, plate and frame exchangers, and plenums; salt water disposal f...

1301 Mckinney

Suite 3300

Houston, TX 77002

United States

Founded in 2011

Phone:

713-358-7000

Key Executives for Diverse Energy Systems, LLC

Founder and Chief Executive Officer
Chief Financial Officer
Chief Operating Officer
Senior Vice President for Western US Region
Business Development Director
Compensation as of Fiscal Year 2017.

Diverse Energy Systems, LLC Key Developments

Motion for Asset Sale Approved for Diverse Energy Systems, LLC

The US Bankruptcy Court gave an order approving the sale of substantially all the assets of Diverse Energy Systems, LLC on January 22, 2016. The debtor has been authorized to sell substantially all its assets to Cimarron Acquisition Co., the stalking horse bidder for a purchase price of $5.45 million in cash pursuant to an asset purchase agreement dated January 20, 2016. The transaction closing shall occur no later than January 29, 2016. R. Scott Cohen and Michael P. Considine of Jones Day LLP acted as legal advisors for the buyer.

Order Scheduling Auction and Setting Sale Hearing for Diverse Energy Systems, LLC

The US Bankruptcy Court entered an order scheduling auction and setting sale hearing for the sale of substantially all the assets of Diverse Energy Systems, LLC on January 13, 2016. As per the order, the deadline for submission of qualified bid for sale of assets is extended to January 17, 2016, auction date has been rescheduled to January 18, 2016 and the bid procedures hearing is scheduled for January 19, 2016.

Order Approving Extension of the Bid Related Deadlines for Diverse Energy Systems, LLC

The US Bankruptcy Court gave an order approving the extension of Diverse Energy Systems, LLC’s bid related deadlines on December 16, 2015. The court approved the extension of deadline for submission of qualified bid for sale of its certain assets to December 21, 2015, deadline for filing notice of proposed stalking horse contract to December 29, 2015, hearing for the same to January 4, 2016, auction date to January 6, 2016 and the final sale hearing to January 12, 2016.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
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