Mike Cowan – Owner & CEO
Mike Cowan has succeeded in the oil & gas business since 1973. Mike is a West Texas native and grew up in an oil & gas family. Mike worked as a banker for the first three years of his professional career. As a bank officer to oilfield companies, Mike quickly saw the opportunities in the oil & gas market and embarked on a highly successful entrepreneurial career. Despite the cyclical nature of the business, Mike has sought out niche businesses allowing him to generate a positive net income every year in business.
From 1973-1982, Mike started and operated Cowan Equipment, Inc. which bought and sold rig equipment, focusing on mud pumps. Gradually the business transitioned to brokering and refurbishing entire rigs. From 1982-1997 Mike switched his focus to distressed rig equipment, and managed entire rig sales and purchases for domestic drilling companies. Coinciding with the rig equipment businesses, Mike operated a Walker McDonald drill bit distributorship covering West Texas to New Mexico. He built that business to $4 million per year before selling to Varel International in 1997.
After selling the bit business, Mike formed M.D. Cowan, Inc. and started refurbishing and building drilling rigs. The initial focus was on existing rig equipment inventory, but when the market need surfaced for new, safer, mobile rigs in 2004, the SUPER SINGLE DRILLING RIG® was created. Since the delivery of the first SUPER SINGLE DRILLING RIG® in mid-2005, the rig has set field records and directly meets the market needs of the modern drilling business. Mike is married, has one child, and two grandchildren.