George E. Failing Co. (GEFCO), which began in Enid, Okla., in 1931, may be for sale, company officials say.  

Aaron Harmon, GEFCO president, says that the parent company told the Enid staff before Christmas it would like to consolidate holdings, and is exploring options with GEFCO and several other operations. Those options include possibly selling the company.

"That also includes STECO, which is a sister company," Harmon says.

Harmon says that other options may present themselves; however, it is very early in the process, and the company ultimately may decide to sell.

"They were just courteous enough to let us know they are exploring options. There is nothing definite," he notes.

Harmon has no comment on how it would affect the 150 employees if a sale occurs. He says that ideally the company would like to find a buyer who comes in and keeps the company running like it has been, possibly even invest more resources and grow the company.

"But that is not a guarantee," he says.

The company, which manufactures both water well and oil and gas drilling rigs, was founded by George E. Failing, and has been sold several times during its history. GEFCO celebrated its 75th anniversary in 2006.

GEFCO also is one of the top water well drilling rig companies in the world, according to company information, and still manufactures oil rigs for shallow drilling. The current location has 47 acres available and 7.5 acres under roof. It also does contract jobs for other companies.