April 21, 2018 12:10 AM ET

Energy Equipment and Services

Company Overview of Quality Oil Tools, LLC

Company Overview

Quality Oil Tools, LLC manufactures high pressure control equipment for use in offshore oil drilling operations. It offers choke manifolds and kill manifolds with associated manual and hydraulically operated gate valves; and drilling chokes and control consoles, standpipe manifolds, cement manifolds and cement piping, and mud piping. The company also provides repair products and services, which include gate and check valves, and chokes; and drilling choke and kill manifolds, standpipe manifolds, diverter ball valves, and choke control panels. In addition, it offers OEM products and services, which include hydraulic choke control panels; hydraulic chokes; and cement lines, spools, DSAs, crass...

1927 Highway 90 West

Post Office Box 718

Jennings, LA 70546

United States

Founded in 2002

Phone:

337-616-3300

Fax:

337-616-3299

Key Executives for Quality Oil Tools, LLC

Quality Oil Tools, LLC does not have any Key Executives recorded.

Quality Oil Tools, LLC Key Developments

Motion for Asset Sale Approved for Quality Oil Tools, Inc.

The US Bankruptcy Court gave an order approving the sale of substantially all the assets of Quality Oil Tools, Inc. on October 10, 2017. The debtor has been authorized to sell substantially all its assets to Chromatic Industries LLC the winning bidder at the auction, for a purchase price of $1.75 million.

Notice of Winning Bidder Filed by Quality Oil Tools, Inc.

Quality Oil Tools, Inc. filed a notice in the US Bankruptcy Court regarding the auction results on October 5, 2017. As per the notice, as the Debtors received multiple Qualified Bids from Qualified Bidders, the Debtors conducted an auction on October 5, 2017. The Debtors received Qualified Bids from Oil States Industries, Inc. in the amount of $1.5 million and Chromatic Industries, LLC in the amount of $1.75 million. Chromatic Industries emerged as the winning bidder with the Highest and Best Bid of $1.75 million.

Notice of Extension of Bid Deadline Filed by Quality Oil Tools, Inc.

Quality Oil Tools, Inc. filed a notice of extension of bid deadline in the US Bankruptcy Court on September 28, 2017. As per the notice the deadline for submitting qualified bid has been extended to October 3, 2017. All other dates, hearings and deadlines in the Bid Procedures Order, including the auction, sale hearing and deadline to object to the proposed sale, have not been extended or amended.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
October 5, 2017
--
Bankruptcy
June 18, 2017
--
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