Titan Energy’s divestment of Hofco Oil Field Services

Jul 1 2015

News

Thomson Geer’s Brisbane Corporate team advised ASX listed Titan Energy Services in May on its divestment of Hofco Oil Field Services Pty Ltd for AU$13.5 million in cash.

The sale of Hofco facilitated the repayment of the existing senior debt facilities in full and provide working capital to enable the company to take advantage of future opportunities in the drilling and accommodation service business units.

Titan Energy Services Limited delivers diversified energy and infrastructure services to the oil and gas, mining, pipeline, rail, road and infrastructure sectors. Titan provides expertise in oil and gas drilling, temporary camp accommodation and management, catering services and water and waste.