Steel Excel Inc. is engaged in steel sports and steel energy businesses. The company’s segments include Energy and Sports. Energy This segment provides various services to exploration and production companies in the oil and gas business. The services provided include well completion and recompletion, well maintenance and workover, snubbing, flow testing, down hole pumping, plug and abatement, and rental of auxiliary equipment. The company, through its wholly-owned subsidiary, Steel Energy Ltd. (Steel Energy), provides drilling and production services to the oil and gas industry. The acquisition of the Black Hawk Energy Services, Inc. (Black Hawk) business increased the Energy business’ heavy concentration in the Bakken basin, and expanded the business into Texas in the Permian basin and New Mexico in the San Juan basin. Sports This segment provides baseball facility services, soccer camps and leagues, and strength and conditioning services. The baseball facility services, which include tournaments, field rentals, camps, and player and umpire instruction, are provided at its facility that is equipped with four full-sized outdoor fields, three smaller youth-sized outdoor fields, and an indoor facility. The company, through its wholly-owned subsidiary, Steel Sports Inc., provides event-based sports services and other health-related services. Acquisitions In 2013, the company acquired a 20% membership interest in Ruckus Sports LLC, an obstacle course and mass-participation events company. Tthe company acquired a 40% membership interest in Again Faster LLC, a fitness equipment company. In 2013, the company acquired 80% of UK Elite Soccer, Inc., a provider of youth soccer programs and camps. Customers The company’s Energy business client base consists of exploration and production companies in the oil and gas industry. For the year ended December 31, 2013, revenues from Continental Resources and XTO Energy represented 17.0% and 10.5% of the company’s consolidated revenues, respectively. The company’s Sports business client base consists of various municipalities, youth sports leagues and organizations, and individuals. Sales and Marketing The company relies primarily on its local operations to sell and market its services. Government and Environmental Regulation Among the various environmental laws the company is subject to, the Clean Water Act established the basic structure for regulating discharges of pollutants into the waters of the United States and quality standards for surface waters. The company’s businesses are also subject to the Clean Air Act, as amended. The company is also subject to the Occupational Safety and Health Act, as amended, and comparable state laws that regulate the protection of employee health and safety. History The company was founded in 1981. It was incorporated in California in 1981 and reincorporated in Delaware in 1998. The company was formerly known as Adaptec, Inc. and changed its name to ADPT Corporation in 2010. Further, the company changed its name to Steel Excel Inc. in 2011.
steel excel inc
(SXCL:OTC Markets Group Inc - OTCQB)
1133 Westchester Avenue
White Plains, NY 10604
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