San Antonio-based PetroLedger Financial Services, LLC is expanding its operations with the acquisition of Oklahoma City-based oil and gas land management and accounting firm Associated Resources, Inc.
PetroLedger, headquartered in San Antonio, is a nationwide leader in providing transaction services for the oil and gas industry.
“We are thrilled to welcome Associated Resources to the PetroLedger family,” said Chad Smith, Partner at PetroLedger. “The combination of their high-quality land services and our premier transaction accounting creates a full-service offering for our current and potential clients. This acquisition is a natural extension of our current business and will enable us to better serve our existing clients and continue to grow our business.”
He called the land administration services a natural progression for PetroLedger.
“Our industry is increasingly losing experienced professionals who are retiring, and due to concerns about the future of our industry, fewer young professionals see a career in oil and gas. PetroLedger is heavily investing in people, training, and technology while also opening offices in new markets. We are committed to supporting the hard-working individuals in our industry,” concluded Smith.
“To find a buyer in PetroLedger who believes in the power of what we do and the people we work with was paramount in our decision to sell,” said Brandan Ward, Partner at ARI. “We believe their attitude to put the client first by investing in their people honors the brand we built over the last 30 years. Our hard-working clients and friends in the oil and gas industry deserve a reputable and diligent partner to support all their needs, and now PetroLedger can do that across land administration.”
PetroLedger employs more than 125 people across the nation and provides support for transactions services, gas plant settlements, division orders, mineral interest management and regulatory requirements.