Wellsite Rental Services, LLC (“Wellsite”), a leading provider of drilling and completion rental equipment, and Viking Oil Tools (“Viking”), a specialty fishing, thru tubing and remedial services company, have agreed to merge to form Wellsite Fishing and Rental Services, LLC. Both companies are majority owned by NGP Energy Technology Partners (“NGP ETP”), an energy private equity firm.

“The Wellsite and Viking service offerings are very complementary in completion and remedial applications, so we see this combination as a great strategic opportunity for both companies. We are also very excited to have two proven management teams with deep industry experience partner together,” says Michael LeBourgeois, managing director of NGP ETP.

“Wellsite offers high quality tubulars and associated handling tools along with a variety of other rental items, so combining Viking’s first-class thru tubing, fishing and remedial service lines with our expansive rental portfolio is a strategic move for both companies,” says Kirby Arceneaux, chairman and CEO of the combined company. “This allows Wellsite to provide complete packages of equipment and field service after fracturing operations are completed and enables us to more broadly compete in the drilling, workover and completions markets.”

Following the completion of the merger, Wes Heiskell, former president and CEO of Viking will serve as Wellsite’s President. “The Viking team is excited to be merging with Kirby and his Wellsite team,” says Heiskell. “This strategic merger is a great opportunity for both companies to expand our product and service offerings and deepen our relationships with existing and potential customers across several markets, including the Permian, Marcellus, Utica, Eagle Ford, East Texas and the Gulf Coast.”

Mark Johnson, current president of Wellsite, will serve as the Chief Operating Officer of the combined company.

“We are looking forward to working with Wes and his team at Viking to bring together the best of both companies,” says Johnson. “Together, we will continue to provide quality products and services to our customers and will strengthen our value in an increasingly competitive market.”

About Wellsite Rental Services, LLC

Wellsite Rental Services is a comprehensive rental equipment provider for the drilling and completion sectors of the oil and gas industry. The company provides tubing and associated equipment, specialty trailers, cooling and heating trailers, automated slips, and additional rental equipment. The company provides cost-effective solutions for its customers throughout North America and is supported by a strong operations team with more than 100 years of collective experience in the oil and gas service business.

About Viking Oil Tools

Headquartered in The Woodlands, Texas, Viking Oil Tools provides oil and gas producers with high quality fishing, thru tubing and remedial equipment and services. Viking is committed to providing a focus on safety, state-of-the-art equipment and excellence in customer service, driven by a management team with more than 100 years of collective leadership experience.

About NGP Energy Technology Partners

Founded in 2005, NGP Energy Technology Partners (NGP ETP) invests equity capital for growth and buyout transactions in companies that provide products and services to the oil and gas, power, energy efficiency and alternative energy sectors. NGP ETP is an affiliate of NGP Energy Capital Management (NGP ECM), a premier investment franchise in the natural resources industry, which together with its affiliates has managed more than $16 billion in cumulative committed capital since 1988. NGP ETP is headquartered in Washington, D.C., and has an office in New Orleans, Louisiana.

Source: www.youroilandgasnews.com

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