Riata Capital Group has successfully sold Extract Companies to NOV, marking a significant milestone for the artificial lift provider as it joins a global leader in energy technology.

Information on the Target

Extract Companies, LLC ("Extract") is a premier provider of artificial lift systems, offering a comprehensive range of products and services to North American energy producers. Since its establishment in late 2017, Extract has transformed from generating less than $10 million in revenue to approximately $250 million by 2024. This remarkable growth was achieved by expanding its operations from two facilities in Tulsa, Oklahoma, to nine across the major oil-producing regions, including the Permian Basin, Mid-Continent, and Bakken regions. Extract's expertise and patented technologies in electric submersible pump (ESP) services have positioned it as a market leader in the artificial lift sector.

Under the stewardship of Riata Capital Group, Extract has not only increased its revenue but has also enhanced its service quality and operational performance for its diverse clientele, which now includes major independent energy producers. The strategic innovations and commitment to excellence have played a vital role in strengthening Extract’s market presence.

Industry Overview in the Target’s Specific Country

The artificial lift market in the United States has witnessed significant growth, driven by increased drilling activity and the ongoing demand for energy. As the country continues to expand its oil production capabilities, the need