LOS ANGELES (HQ) · ATLANTA · BOSTON · CHICAGO · DALLAS · NEW YORK · SAN FRANCISCO · LONDON 800.45.GREAT | Oil & Gas Presentation

LOS ANGELES (HQ) · ATLANTA · BOSTON · CHICAGO · DALLAS · NEW YORK · SAN FRANCISCO · LONDON

www.greatamerican.com 800.45.GREAT |

Oil & Gas PresentationJanuary 2014


www.greatamerican.com 800.45.GREAT | 2

Practice Overview

Great American has extensive experience within the Oil and Gas sector and has provided appraisal and liquidation services to companies, private equity groups, family offices, banks, and commercial finance organizations across the U.S. and Canada.

GA has built a quality team to assist with both tangible and intangible valuations across the O&G platform. Some of our most recent experience includes:

Drilling RigsDownhole Logging ToolsFrac EquipmentNatural Gas Compression EquipmentPipeline EquipmentRental Tools and EquipmentSaltwater Disposal Wells TransportationTubular GoodsWireline TrucksWorkover Rigs

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Oil and Gas Experience Allegiant Tool & Machine, LLC Diamond Tank Rental, Inc. Keane and Sons Drilling Co. Paragon Industries, Inc. Sun Drilling Products Corp.

Amega West Services, LLC Directional Rentals, Inc. Kimzey Casing Service, LLC Peak Oilfield Service Company, LLC T & J Enterprises, LLC dba Morgan City Rentals

Anderson Perforating, Ltd. Dupre Energy Services Knight Oil Tools Pel-State Services T&T Testers, Inc.

Antelope Oil Tool Mfg. Co. E2 Energy Services Kodiak Gas Services, LLC Permian NDT, Inc. Tall City Well Service

Ark-La-Tex Wireline Services, LLC Edgen Murray Corp L&L Tank Trucks, Inc. PetroLiance, LLC TEAM Oil Tools

Artexoma Logistics, LLC Enerven Compression Services L&R Tank Trucks, Inc. Petroplex Acidizing Tejas Tubular Products

Atlas Oilfield Construction Co., LLC Evans Oil Company, LLC Laney Directional Drilling Co. Petrowest Energy Services Trust TMK IPSCO

B&G Crane Evergreen Tank Solutions Martin Resource Management Co. Power Associates International, Inc. Tops Well Service, LLC

Benchmark Performance Group Excel Environmental Services, Inc. Maxim Crane Works, LP Prohaul Transports, LLC/Wright Trucking, Inc. Trinity Disposal and Trucking LLC

Big Eagle Services, L.P. Forbes Energy Services Maxum Petroleum Holdings, Inc. ProPetro Services, Inc. TSC Safety, Inc. and TCConsulting, Inc.

Big Lake Services Francis Drilling Fluids, Ltd. MG Bryan Equipment Company PTC Alliance Corp Ultra Tech Frac Services, LLC

Blackhawk Specialty Tools, LLC Green Field Energy, Inc. Michigan Seamless Tube RECON Petrotechnologies, Inc. USA Compression

Bourland & Leverich Supply Gregg Drilling & Testing, Inc. Milam Tool Company RelaDyne, Inc. Valerus Compression Services

Calumet Specialty Products Partners Griffin Dewatering Corp Mustang Gas Compression, LLC RP Services - Well Testing/Flowback Division VMI/Energy Services International

Castronics, LLC Hardee Landry, Inc. Newco Valves, LLC RWI Construction, Inc. VMJ Oilfield Services

Champion Energy High Sierra Sertco LLC North American Propane Schlumberger Limited (Downhole Tool Division) WDC Exploration & Wells

Coffman Tank Trucks, Inc. Hill Petroleum, Inc. Nuverra Environmental Services Seismic Equipment Services WESCO International

Compressco Partners, LP HMT, Inc. & Subsidiaries Oil Patch Brazos Valley, Inc. Southern Frac Tank Manufacturing Western Marketing, Inc.

Continental Alloys & Services Integrated Drilling Equipment Omni Valve Company, LLC Specialized Tech, Inc. Western Petroleum LLC

Cross Country Pipeline Supply Co., Inc. IOS/PCI, LLC Orion Drilling Speedy Heavy Hauling Wolf Pack Rentals, LLC

Diamond Pump & Transporter, L.L.C. JC Inspections, Inc. O'Rourke Distributing Co. Steve Kent Trucking NM, LLC Xxtreme Pipe Services, LLC




Drilling Rigs – Sample Experience

Bronco Drilling, Inc. Bronco has been in business for nearly 40 years providing services for commercial and residential new wells, pump and sales service, well rehabilitation, and various other services.

Chesapeake Energy Corp Chesapeake Energy Corporation is the second-largest producer of natural gas, the 11th largest producer of oil and natural gas liquids and the most active driller of onshore wells in the U.S.

Goober Drilling, LLC Goober Drilling, LLC was acquired by Keen Energy Services, LLC




Drilling Rigs – Sample Experience

Keen Energy Services

Engages in the contract drilling of onshore oil and natural gas wells for exploration and production companies in Oklahoma, Texas, Arkansas, and Louisiana. It offers directional, horizontal, and city drilling services. Keen Energy Services, LLC was formerly known as Goober Drilling, LLC and changed its name to Keen Energy Services, LLC. The company was founded in 1991 and is based in Stillwater, Oklahoma. As of October 17, 2012, Keen Energy Services, LLC operates as a subsidiary of Latshaw Drilling and Exploration Company.

Orion Drilling Company Located in Corpus Christi, Texas, ORION is a full service drilling company. Every rig in the ORION fleet is equipped with a top drive, automatic catwalk, and EDS controls.

Ultra Tech Frac Services, LLC Service provider for frac pumps, acid and gel transport, manifold trailers, propmaster and air cans, workover and drill rigs, as well as blender and hydration units




Workover Rigs – Sample Experience

Big Lake Services, Inc.Big Lake owns a fleet of 24 well service rigs that perform maintenance, workover and completion operations on crude oil wells in the Permian Basin, the largest well servicing market in the country.

Forbes Energy Services Independent oilfield services contractor that provides a broad range of drilling-related and production-related services to oil and natural gas companies, primarily onshore.

Permian Services, Co., LLC

Founded in 2004, Permian provides oil and gas services and repair utilizing their fleet of pulling units and kill trucks across Southern Texas and Southeastern New Mexico. The Company maintains its corporate offices in Midland, Texas and operates additional facilities in San Angelo, Texas.




Oil Country Tubular Goods – Sample Experience

Bourland & Leverich Supply Co., LLC.

BLSC, founded in 1935, supplies oil country tubular goods (“OCTG”) to oil drilling and exploration companies. Products include electric resistance welded (“ERW”) and seamless pipe and casing inventory. The Company also offers tubulars, sucker rods, steel products, and related equipment.

Castronics, LLC Castronics is the premier oil and gas pipe threading and OCTG service provider in the Rocky Mountain and Upper Midwest region of the United States.

Edgen Murray Corporation

Headquartered in Baton Rouge, Louisiana, Edgen Murray is a distributor of electric resistance welded (“ERW”), submerged arc welded (“SAW”), and seamless carbon and alloy steel pipes and related products for use in a variety of applications, including oil and gas, power generation, and industrial services.

Michigan Seamless Tube, LLC

Michigan Seamless Tube, founded in 1927, is a producer of seamless tube and pipe in the form of mechanical, pressure, and temper tubing. MST produces a variety of customer specific products with end uses in a multitude of industries, including power generation, oil country tubular goods (“OCTG”), aerospace, and automotive.

Paragon Industries, Inc.

Paragon, founded in 1970, is a manufacturer and distributor of steel drilling pipe, collars, casing, and tubing. The Company’s products are utilized primarily for natural gas and oil production, as well as for building and bridge construction.



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PTC Alliance CorporationPTC is a manufacturer of welded and cold-drawn mechanical steel tubing, chrome-plated bars, fabricated tubular parts, and precision components. The Company was formed in 2000 upon Pittsburgh Tube Company’s acquisition of Alliance Midwest Tubular Products and Enduro Industries, and includes the DOM, ERW, Components, Enduro, and Wiederholt divisions.

Tejas Tubular Products, Inc.

Tejas Tubular, founded in 1990, is a manufacturer and distributor of steel oil and country tubular goods (“OCTG”) such as electric-resistance-welding (“ERW”) and seamless tubing, ERW and seamless casing, couplings, oilfield drill pipe, and pup joints. The Company’s oilfield products are available in a variety of grades, dimensions, and specifications, with many products meeting American Petroleum Institute (“API”) standards.

TMK IPSCOTMK IPSCO is a producer of welded and seamless energy tubular products (primarily piping) for the oil country tubular goods industry. The Company sells to independent OCTG product distributors/service centers as well as large end-use customers.

Wolf Pack Rentals & Xxtreme Pipe Services, LLC

Wolf Pack rents support equipment to the oilfield industry. Xxtreme Pipe is an oilfield country tubular goods (“OCTG”) service provider.

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Oil Country Tubular Goods – Sample Experience




Natural Gas Compression – Sample Experience

Compressco Partners, LPCompressco is a provider of wellhead compression-based production enhancement services, or “production enhancement services,” to a broad base of natural gas and oil exploration and production companies operating throughout most of the onshore producing regions of the United States. Compressco is majority owned by Tetra Technologies.

E2 Energy Services, LLC

E2 Energy Services was recently founded by the senior management team of Enerven Compression Services, a compressor leasing/contract compression company with a fleet of compressors, a portfolio of third-party and aftermarket services, and several turnkey build, own and operate projects. Effective January 1, 2013, Enerven sold it assets and the senior management team raised new capital and formed E2.

High Sierra Sertco LLC The Company manufactures natural gas-powered, trailer-mounted wellhead compressors.




Natural Gas Compression – Sample Experience

Kodiak Gas Services

Kodiak is a provider of compression management for company and customer-owned compressors and compressor stations. Kodiak also offers a full range of overhaul services for natural gas engines and compressor frames as well as roustabout crew services, including general field support and maintenance services for production facilities and general infrastructure to oil and gas producers in the U.S.

USA CompressionUSAC is the largest pure-play contract compression service provider in the United States, with approximately 968,000 horsepower of compression equipment. USAC completed the acquisition of 983 compression units (~148,000 HP) for $187 million owned by S&R Compression, LLC.

ValerusValerus is a service provider in the contract compression market and provides contract compression and production services, as well as equipment sales across all stages of the natural gas well life cycle and throughout the gas production and transportation chain.




Saltwater Disposal Wells – Sample Experience

Coffman Tank Trucks, Inc.

Coffman, founded in 1968, is a hauling and disposal service provider for the oilfield industry. The Company transports and disposes of well site fluids and mud. The Company maintains its corporate offices and facilities in Chico, Texas.

Hardee Landry, Inc.

HLI provides well-site support services and logistics services to the Barnett Shale, Eagle Ford Shale and Marcellus Shale.

Trinity Disposal and Trucking, LLC

TDT provides saltwater disposal services and hauling services for local oil and gas producers. TDT accepts water from saltwater haulers for a fee, processes the saltwater, and recovers residual oil contained in the saltwater.




Valve Equipment – Sample Experience

Continental Alloys & Services

Continental, founded in 1976, is a distributor of tubular goods and bar, as well as a fabricator of pipe and bar used in well completion services for the energy sector. The Company distributes tubular goods and bar from a wide variety of metals and metal alloys, including chrome, carbon steels, alloy steels, and nickel alloys.

WESCO InternationalWESCO, founded in 1922, is a leading distributor of maintenance, repair, and operating (“MRO”) supplies for electrical and industrial applications, as well as products for construction and original equipment manufacturing (“OEM”) purposes

Omni ValveOmni Valve is a leading provider of valve solutions used for exploration, production and distribution of crude oil, natural gas & other petroleum products / hydrocarbons. Omni offers a full range of valve sizes and configurations within each of its core product lines.

Newco Valves, LLCNewco, founded in 1922, is a distributor of valves, which it supplies to other distributors for the hydrocarbon, pulp and paper, marine, power, chemical, mining, and general industries. The Company’s products include a comprehensive line of valves including gate, globe, swing check, and triple offset valves.




Great American Team Members:

Drew Jakubek Managing Director Sponsor Coverage

Office (972) 265-7981Cell (214) 455-7081

[email protected]

• Responsible for developing and enhancing sponsor relationships for Great American Group across the United States.

• Prior to Joining Great American Mr. Jakubek was Vice President and Business Development Officer with National City Business Credit where he focused on asset based loans in the $10 million to $200 million range.

• Mr. Jakubek has held roles as a banker, chief financial officer, investment banker and turnaround consultant.

• Susquehanna University, Bachelor of Science in Finance and Economics.

• Mr. Jakubek founded and is Managing Partner of the Private Equity Forum, an organization dedicated to promoting quality deal flow throughout the private equity community.

• Fairleigh Dickinson University, Master of Business Administration.

Julian PisaniSenior Associate

Advisory & Valuation Services

Office: (818) 746-9353Cell: (925) 788-6835

[email protected]

• Mr. Pisani supports the business development and operational divisions at Great American, providing entrepreneurial avenues of engaging clients and advancing operational efficiencies. Mainly serving the Midwest and Southwest regions of the United States, Mr. Pisani also supports GA’s Southeast and West business development. He has led engagements into Australia, benefiting the expansion of GA’s liquidation and Machinery & Equipment divisions.

• In addition to the above, Mr. Pisani has contributed to the expansion of Great American’s Corporate Valuation Services group and actively serves as an account manager for several business development officers.

• Loyola Marymount University, Bachelor of Business Administration, Finance and Entrepreneurship

mailto:[email protected]





Robert CallawayHead of Oil and Gas

Appraisal & Valuation Services, LLC

Office (214) 394-9952Cell (210) 287-2565

[email protected]

• Responsible for management of Great American Group’s Oil & Gas practice.

• Mr. Callaway has over 20 years of Corporate Finance experience in both international and domestic corporations with extensive valuation experience. These include Oil and Gas experience while working in Exploration and Production investment management for a privately-owned firm based in Dallas, Texas. In that role Robert had exposure to various basins in Texas, Louisiana, and New Mexico, in both conventional and non-conventional plays.

• Owen Graduate School of Business at Vanderbilt University – Masters of Business Administration

• University of Texas at Austin – Bachelor of Business Administration

Willis Choate, ASA, C.E.A.Managing Senior Appraiser

Appraisal & Valuation Services, LLC

Office (580) 276-1395Cell (580) 230-9047

[email protected]

• Mr. Choate has over 20 years of experience in the appraisal of machinery and equipment, retail and wholesale inventories, and real property, having served in the employ of leading appraisal firms. Appraisals prepared by Willis have been utilized for the purposes of sale / purchase, insurance, financing, income tax, ad valorem tax, allocation of purchase price, property accounting, corporate planning, and plant divestitures.

• Willis has achieved the designation of C.E.A. as administered by the AMEA. He has served the ASA as an officer of the Dallas/Fort Worth Chapter. Willis is a Texas-certified general real property appraiser.

• Additionally, Henry is an Oklahoma-certified real property appraiser. Henry has completed appraisals throughout the United States as well as in Canada and Mexico and is qualified to opine on a full range of value concepts.

• University of Oklahoma – Bachelor of Business Administration, Management & Finance







Darin R. NeumyerManaging Director

Corporate Valuation Services

Office (415) 571-2022Cell (312) 375-7128

[email protected]

• Mr. Neumyer manages the daily operations of the group, directly oversees projects, and manages client relationships.

• Mr. Neumyer has more than 9 years of experience in valuation; and transaction and financial advisory services related to enterprises and individual intangible assets for lending, tax, and financial accounting, fairness opinions, solvency opinions, ESOP, and litigation.

• California State University-Northridge, Bachelor of Science in Business Administration.

• University of Chicago, Master of Business Administration.

Karthik VasudevanManaging Director

Corporate Valuation Services

Office (415) 571-2021Cell (415 ) 564-1572

[email protected]

• Mr. Vasudevan manages the daily operations of the group, directly oversees projects, and manages client relationships.

• Mr. Vasudevan has more than 11 years of experience spanning valuation, transaction and financial advisory services related to enterprises and individual intangible assets for lending, tax, and financial accounting, investment banking, private equity; and general management.

• Carnegie Mellon University, Bachelor of Science in Chemical Engineering.

• Northwestern University, Master of Business Administration.







Chad Yutka Managing Director

Office: (972) 996-5631Cell (214) 394-9952

[email protected]

Mr. Yutka is responsible for management of the Corporate Valuation Services practice. He provides oversight and review of all financial reporting, property tax, and risk management valuations, as well as advisory and litigation support engagements related to corporate valuation services. Mr. Yutka has led over 600 asset valuations within international and domestic corporations since joining the appraisal profession in 2003, specializing in the valuation of industrial plants, machinery, equipment and other tangible assets. Mr. Yutka, who received his Accredited Senior Appraiser (ASA) designation from the American Society of Appraisers in 2008, has spent most of his professional career working for the nation's leading industrial appraisal and liquidation firms.

University of Wisconsin-La Crosse , Bachelor of Science in Finance.

Ed BelangerNational Practice Leader

Office: (972) 338-2625Cell: (214) 704-3141

[email protected]

Ed has 20 years of experience in the valuation of business interests and intangible assets, with a focus on valuation for financial reporting and corporate tax purposes, and experience in fairness and solvency opinions.

He has served clients in a wide range of industries, including energy, telecommunications, cable and broadcasting, software, semiconductors, manufacturing, retail, food processing, professional services and private equity, and has been active in professional training activities over the length of his career.

Northwestern University, Bachelor of Science in Industrial Engineering Southern Methodist University, Master of Science in Engineering Management The University of Texas at Austin, Master of Business Administration




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LOS ANGELES (HQ) · ATLANTA · BOSTON · CHICAGO · DALLAS · NEW YORK · SAN FRANCISCO · LONDON 800.45.GREAT | Oil & Gas Presentation