A critical part of almost any investment banking process is valuation. PPHB works primarily in the private side of the market, where companies have little, if any, trading of their securities and there are no analysts writing research coverage providing valuation guidance. In this environment, the firm spends a tremendous amount of time doing valuation work and continuously gathers market information. In addition to the insight from our transactions, we research and track other transactions in the oilfield service space. Because of our passion and interest in the sector, our team is immersed in industry data and market intelligence. With this foundation and experience, PPHB is well-positioned to provide shareholders and boards with assistance in valuing their companies.