Patriot Well Solutions is a Newly Formed Cased Hole Wireline Services Company
Denver, CO (January 12, 2016) – White Deer Energy L.P. II (“White Deer”), together with MBH Energy Resources LLC (“MBHER”), has made an equity commitment to establish Patriot Well Solutions LLC (“Patriot”).
Patriot will provide a comprehensive suite of wireline services to its customers, including well perforation, logging and well evaluation, fishing and other maintenance services. Headquartered in Denver, Colorado, the company will initially be focused in the Rocky Mountain region, and over time will expand to serve other basins across the U.S.
Patriot has state-of-the-art, high-quality wireline units that come equipped with all of the required critical equipment to increase service quality and improve safety, while being able to address the needs of increasingly complex well completions. The company has both an organic and acquisition driven growth strategy. Patriot’s experienced management team is led by Dragan Cicvaric.
“I am excited to partner with both an outstanding investment group and operations team to develop Patriot into a first class oilfield service company. Our focus is on formulating our business to deliver superior performance and value for our customers while growing Patriot in a structured and systematic manner”, commented Dragan Cicvaric.
Patriot will be strongly capitalized with financial backing from White Deer and MBHER, which will allow the company to build a leading wireline service operation.
Jim Meneely, a partner of White Deer, added:
“While oilfield service markets remain challenged, we believe now is the right time to back a proven leader in building a best-in-class cased hole wireline operation with state-of-the-art equipment. In addition, White Deer is excited about partnering with MBHER given their proven track record of building companies from the ground up, strong relationships throughout the Rockies and valuable technical expertise in the energy services space.”
About White Deer Energy: White Deer Energy is an energy private equity firm focused on the exploration and production, oilfield service and equipment manufacturing, and midstream sectors of the oil and gas industry. With $2.2 billion of capital commitments across two private equity funds, White Deer Energy is a long-term investor targeting equity investments of $50 to $150 million. With offices in Houston and New York, White Deer Energy has a combination of industry expertise and capital that makes it an attractive partner for rapidly growing energy companies.
About MBH Energy Resources: MBH Energy Resources was formed in 2013 by MBHE Holdings LLC, Eric White and Mark Pearson to invest capital and resources with experienced management teams in oilfield services, midstream, and the acquisition of producing and non-producing leasehold and mineral assets. MBH Energy Resources combines the broad oil and gas and company building experience of its principals to drive long-term value creation for its investors and management teams.