Green Field Energy

Case Study

Guaranteed the sale of 3,500 pieces of equipment valued at over $250 MM for this hydraulic fracturing well service provider, allowing the recovery of losses by the company’s lenders even during a period of market turbulence.

summary-client Green Field Energy

By The Numbers

Generous fee-based remuneration with significant success-based bonus

Gordon Brothers sold the assets of Green Field Energy Services on an orderly basis after the company’s largest customer made the decision to withdraw from natural gas production in the Eagle Ford Shale. Green Field had recently invested in a new facility and state-of-the-art equipment to support its customer’s growth, but the investment had now become obsolete. Green Field was forced to file bankruptcy and, acting as agent, we guaranteed the sale of the assets, allowing the company to wind down in an orderly process and its lenders to recover their losses.

Over the course of the following months, our team negotiated asset sales directly with senior management at virtually every major hydraulic fracturing company and/or its private equity funding source to help find productive future uses for the pressure pumping and support equipment. During this time, the price of oil fell dramatically, putting the valuations on which we based our guarantee to the test. Marketing the assets during such a volatile environment offered a unique opportunity to gauge the liquidation value for new and used energy assets in light of market volatility. At the same time, we developed an extensive database of industry contacts and unique access to senior executives in the energy sector to provide market insight and support future sales opportunities.