FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Capital One Closes $23.7 Million Credit Facility for Big Lake Services

November 07, 2012, 08:14 AM
Related: Capital One Bank

Capital One Bank closed a five-year $23.7 million credit facility for BLSCO Newco, Inc. (d/b/a Big Lake Services). Big Lake Services is an oil well servicing company operating in the Permian Basin in West Texas. Proceeds of the facility will be used to fund Big Lake’s working capital needs and future growth plans.

"This was our first experience working with the Capital One Bank team, and we were very pleased with their level of expertise and commitment to serving our financial needs," said James P. Wilson, managing director, Rock Hill Capital, a private equity firm in Houston that purchased a majority interest in the company as part of the Capital One Bank financing.

Headquartered in Midland, TX  with a second office located in Big Lake, TX, Big Lake Services provides critical maintenance, completion and a variety of other essential work over services to exploration and production companies in West Texas. Since Big Lake Services was established in 2006, the company has grown from being a three rig operation to having over 22 rigs to serve clients throughout the greater Permian Basin.

“We are thrilled with the Capital One Bank team’s support and successful efforts to secure financing to help us expand our business," said Casey Davidson, CEO, Big Lake Services.  "We look forward to building a long and mutually beneficial relationship with the group.”

“Big Lake Services has demonstrated great prospects for growth that we’re proud to support with a financing solution designed to meet the organization’s unique needs,” said Mike Ehlert, regional manager and senior vice president, Capital One Bank. “We look forward to expanding our relationships with the management teams at Big Lake Services and Rock Hill Capital in the future.”

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.