Permian Basin Hydrovac Services Company, Odessa Texas Oilfield Services

Full Editorial Writeup

This is a Permian Basin oilfield services firm based in Odessa, Texas, that provides hydrovac excavation, equipment rental, roustabout labor, and casing cleaning to oil & gas operators and construction clients. Founded in 2001 and operating under its current ownership group since 2016, the business has grown its hydrovac fleet from a single truck to eighteen trucks and now employs 42 full-time staff plus roughly 3 contractors. The company holds Master Service Agreements and Master Construction Agreements with blue-chip operators including Occidental Petroleum, Chevron, ConocoPhillips, and BPX Production.

The revenue history tells a story of oilfield cyclicality. The owners grew revenue from $1.4 million in 2016 to a peak of $19.6 million in 2023, before it normalized to $12.4 million in 2024 and $10.3 million in 2025 as Permian activity cooled. The listing headlines a $14.1 million gross revenue figure and $3.142 million in cash flow, with a stated 3-year average EBITDA north of $3 million. The firm owns a 15,650 SF facility on 5 acres, offered for sale or lease-back as part of the deal.

The asking price of $15.5 million carries $11.3 million in FF&E, meaning a large chunk of the valuation is rolling iron: eighteen hydrovac trucks and supporting equipment. That matters because a buyer is effectively paying for a capital-heavy fleet business tethered to one commodity cycle, dressed up with MSAs that provide access but not guaranteed volume. The pitch is a path past $20 million in revenue on existing infrastructure, plus diversification into non-oilfield hydrovac demand.