Subsidiary of Capital City Energy Group (CETG.OB) Acquires Osage Wireline, Inc.
Earlier this week, it was announced that a subsidiary of Capital City Energy Group, Eastern Well Services, signed a letter of intent to acquire Osage Wireline, Inc. The cash and stock acquisition is expected to produce immediate benefits, including a postulated increase in gross revenues of around forty percent. Eastern Well Services is a fast-growing oil and gas service entity with projects in both the United States and Africa. The company provides fracturing, cementing, logging, perforating, and well testing services for oil and natural gas companies. This latest acquisition will broaden Eastern's wireline ability, which is the use of a…