According to JMR, the combined company will offer a one-stop-shop for P&A, well site remediation/reclamation and eventually methane emissions quantification, reduction and monetization via carbon credits. (Source: Shutterstock/ JMR Services/ A-Plus P&A LLC)
Permian Basin plug and abandonment (P&A) company JMR Services has executed a letter of intent to merge with A-Plus P&A LLC, which provides P&A services in the Denver-Julesburg, Permian and San Juan basins.
Financial details of the deal announced by JMR on March 5 were not disclosed. JMR said that in addition to P&A services, JMR will bring to the new company well site decommissioning and reclamation expertise from its recent acquisition of Rattler Industries Inc. d/b/a Rattler Services.
According to JMR, the combined company will offer a one-stop-shop for P&A, well site remediation/reclamation and eventually methane emissions quantification, reduction and monetization via carbon credits.
James (Jimmy) Roark, JMR’s CEO as well as founding principal and board member of A-Plus, will remain CEO of the merged organization under the JMR Services brand. In 2015, he co-founded JMR with his brother, Lee Roark, who is JMR’s COO and who will serve as COO of the combined company.
Trey Stolz, CFO of A-Plus, will serve as CFO of the combined company.
Following the merger, A-Plus’ CEO Randy Pacheco will take on the role of vice president of governmental affairs after the merger.
The merger is anticipated to close early in the second quarter of 2024, subject to customary closing conditions.
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