NEW YORK, NY / ACCESSWIRE / October 25, 2024 / Azure Holding Group Corp. (OTC PINK:AZRH) and CST Drilling Fluids have officially completed a strategic merger, integrating CST's full business operations into AZRH. The merger, finalized on October 18, 2024, merged 100% of CST's business in an all stock exchange. CST Drilling Fluids, a fourth-generation oilfield services company, brings extensive expertise and a range of high-quality solutions to the partnership. The companies plan to pursue further joint ventures and acquisitions in the coming months.
Azure Holding Group Corp. (OTC: AZRH), a Nevada corporation, and CST Drilling Fluids (CST), is a "Louisiana Corporation" corporation, are pleased to announce the execution of the final Merger Agreement, effectively merging 100% of CST's operating business into $AZRH.
The Merger is now final, with the Merger Agreement being executed between both parties on Friday, October 18,2024.
CST Drilling Fluids is a 4th Generation Oil Field Services and Construction company headquartered in the heart of the Permian Basin, Texas. The Company recognized $16,487,714 in revenue and $2,780,000 in net income for the year ending December 31, 2023. Its 2023 fiscal year financial statements, which are unaudited but were compiled by a third party accountant are being released concurrently with this press release on the X page of Belisarian Holdings, LLC. The company intended to engage Grassi as its independent auditor in the coming weeks, in addition to several other joint ventures and acquisitions to be announced.
CST Drilling Fluids provides a wide array of oilfield solutions and services for its valued customers. Utilizing standardized processes, its objective is to deliver high-quality products and services in a timely and efficient manner. Through its experienced and trained crews and extensive equipment inventory, it enables companies, from small independents to majors, to get their projects.
Marcus Laun advised Controlled Investments, a capital investment firm led by Josh Cohen that has raised $310 million in committed capital this year and has acted as an advisor or co-advisor to over $1.3 billion in consummated transactions over the past decade, through its transaction with CST, which resulted in Controlled Investments taking a 40 percent stake in CST as of August 19, 2024."
Conclusion:
Finally it's concluded that the merger between Azure Holding Group and CST Drilling Fluids marks a significant step forward in expanding both companies' influence within the oilfield services industry. With CST's expertise and Azure's resources, the combined entity is well-positioned for future growth and strategic ventures. This partnership sets the stage for further collaborations and acquisitions in the energy sector.
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Company Name: $AZRH / Oil field services ai
Contact Person: Josh Cohen
Josh@controlleddev.com
Website link: www.oilfieldservices.ai
City: New York
State: NY
Company Name: CST Drilling Fluids
Contact Person: William France
Contact Email: will.france@cstfluids.com
Website link: Www.cst1989.com
City: Midland
State: Texas
SOURCE: CST Drilling Fluids
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