Tally Energy forms to serve shale producers’ new focus

By Luke Geiver | October 02, 2017

Shale oil and gas producers have shifted their focus from developing and expanding fields and acres towards executing on operational efficiency gains and production increases, according to Tally Energy Services. Tally, the Houston-based energy services company, has announced capital commitments of $130 million. The investment from RedBird Capital Partners and Sallyport Investments will be used to help the company provide directional drilling services, completion equipment and artificial lift. The investors are also open to providing more capital for company acquisitions.

To date, Tally has acquired Terra Directional Services, a full-service directional drilling company that specializes in horizontal wells, and Tech-Flo Consulting, a supplier of hydraulic lifts. According to Tally, an imbalance in supply and demand has forced a shift in the shale world from development to execution which puts a greater focus on efficiency and technology to reduce costs. The company said its goal is to focus on three areas: wellbore placement, reservoir communication and bringing hydrocarbons to the surface.

“Tally Energy has an important role to play in today’s dynamic oil and gas sector,” said Chris Dorros, CEO of Tally. “As new opportunities emerge for specialized companies that have adapted to the new industry environment, we are well positioned to develop collaborative partnerships.”

Both companies acquired by Tally operated in Texas. Doug Foshee, former president and CEO of El Paso Corp. has been named the Chairman of the Board. Foshee oversaw one of North America’s largest natural gas pipelines and was involved in a merger with Kinder Morgan in 2012 that, at the time, was one of the largest mergers of its kind the energy space.