Insight Management Corp. focuses on the oil and gas industry for business-building acquisitions and alliances. The company today announced updates on its revenue, acquisitions and growth strategy.
The company posted revenue of $588,903 for the third quarter ended September 30, 2009. EBITDA increased a significant 131 percent for the quarter to $214,505 as compared to the second quarter of 2009.
In June 2009, Insight Management acquired Rebel Testing Inc., a regional oil and gas field services provider for the greater Colorado, Wyoming and Utah areas. For more than 18 years, the company has provided profitable operations, offering pump hoist and blow-out prevention services. The company has retained various customers, including two Fortune 500 oil and gas corporations.
Eco Fossil Fuels, another Insight Management subsidiary, was created to develop environmentally friendly technologies for the energy sector. Eco Fossil Fuels acquires and develops such technologies for oil and gas operators to increase extraction with minimal environmental impact.
Insight Management President and CEO Jennifer Rapacki said the company is targeting additional oil and gas services for acquisitions to enhance the company’s value, portfolio and operations.
“We are extremely pleased with Insight Management’s progress this year. We have acquired a strong, growing oil and gas services business that increased revenue and turned a healthy profit in spite of the economic downturn. To build on this growth and continue to increase value for shareholders we are working to strengthen the operations of our subsidiary and acquire other profitable drilling and well servicing companies in 2010,” Rapacki stated in the press release.