Medically Minded, Inc. (OTCMKTS:MMHC) now known as Medically Minded Holding Corp., reported that it has bought 66 Oilfield Services, LLC, an oil field services firm with headquarters in Oklahoma City.

The update

66 is the descendant to a third-gen heavy oil field equipment firm established by J.C. Houck in Oklahoma. It focuses on offering the oil industry with heavy-weight drill pipe, custom drilling rigs, pup joints, drill collars, handling tools, pony collars, casing, tubing, engines, compressors, blow-out preventers and other select equipment to clients globally via facilities in Germany, and Dubai. Management of 66 has robust management and a proven logistical and technical track record of high performance and value.

James Frazier, the President, has more than 25 years of financial control and accounting experience as a former CFO and President with numerous publicly held international and domestic gas and oil firms on both the TSX and the OTC. Recently, Frazier was associated with Continental Resources. Donald Woods is Chief Operating Officer and VP with more than 20 years of experience in heavy oil field equipment and service logistics firms.

Medically Minded reported that other Directors and Officers included Joseph Wright, John Johnston, and Glen Houck Sr. Both Mr. Johnston and Mr. Wright bring over 25 years of oil field asset and services sales knowledge and extensive experience to the firm’s Board. Houck is the Director, and represents the Houck Family Ventures. He has been in this heavy oil field equipment market for more than 35 years and has advanced quality long term associations throughout the drilling market. 66’s pipe yard is over 40 acres, holds in surplus of $4MM of pipe inventory and equipment at any given time and employees more than 10 inspectors and equipment specialist.

Besides drill pipe and rig linked equipment, 66 currently buys and restores custom rigs on a steady basis for resale via a JV with Oklahoma Rig Fabricators, and Five Star Rig and Supply. 66 earned revenues of $3.9 million in 2016 and $5 million in 2015 with net income of $695,000 and $926,000, respectively.

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