Torch News - March 31, 2006
Torch Energy Advisors, Inc. announced today that it has sold all of the assets of its Torch Rig Services, Inc. subsidiary. With the sale of these assets, Torch completes its exit from the California market.
Subsequent to the sale, Torch formed Permian Basin Well Services (PBWS), an Andrews, Texas-based well services company. PBWS concentrates its activities in the western region of the Permian Basin and maintains a fleet of five well service workover rigs, two reverse units and associated fishing tools and support equipment. More information on PBWS can be found at: www.teai.com.