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Blast Energy Services Snapshot
Blast Energy Services (formerly Verdisys) is having a blast helping its customers keep pumping out oil from mature fields. Using specially fabricated mobile drilling rigs, the company provides a range of oil and gas services, including lateral drilling and well production enhancement. The company, which emerged from Chapter 11 bankruptcy protection in 2008, acquired $1.2 million of oil and gas properties in Matagorda County, Texas, in 2010, as a way to expand its revenue base and to fund the development of its proprietary Applied Fluid Jetting drilling activity. To raise cash, in 2011 it sold its oilfield satellite telecommunications services unit to GlobaLogix.
