RUBICON OILFIELD INTERNATIONAL ACQUIRES CHOICE COMPLETIONS SYSTEMS

Combination enhances Rubicon’s well construction portfolio and completion solutions

 

Houston, TX – May 8, 2017 – Rubicon Oilfield International (“Rubicon”) today announced it has acquired Choice Completions Systems, LLC (“Choice”), an emerging technology company specializing in the supply of downhole products for unconventional multi-stage completions.  Terms of the transaction were not disclosed.

Established in 2016, Choice has rapidly built a reputation for developing and delivering high quality completion products fueled by the specific needs of E&P operators across U.S. unconventional basins.  The transaction further strengthens Rubicon’s robust portfolio of products across the Completions Solutions business segment, enabling the organization to offer differentiated and value-driven frac plug and toe sleeve technology to its customers.  Rubicon will invest in the accelerated growth of Choice product lines, allowing Choice’s employees to provide their customers in the U.S. and around the world with enhanced services and capabilities.

“We are pleased to welcome the Choice team to Rubicon and believe this transaction will significantly enhance our participation in the multi-stage completions market, fueled by passionate people and one of the most exciting downhole completion product offerings in the industry,” said Michael Reeves, President and Chief Executive Officer of Rubicon.  “The combination of best-in-class engineering, manufacturing and customer service capabilities from Rubicon and Choice will immediately enable our teams to offer higher value and more comprehensive completions solutions to customers.”

“Choice technology was born from listening to customers’ pain points and applying practical innovation to create one of the most exciting frac plug and toe sleeve offerings in the market,” said Jayme Sperring, Chief Commercial Officer of Rubicon.  “Today’s announcement represents another important step in Rubicon’s path to delivering an exceptional customer experience, offering value-driven products and a highly specialized team of professionals.”

“The Choice team has built something truly special and I am very excited by the opportunities this transaction will create for our employees and customers,” said Wes Pixley, CEO of Choice.  “Rubicon’s strong footprint, commitment to customer service and robust balance sheet will dramatically accelerate the growth of our business.”

To read the full press release please click here.


The U.S. shale oil industry may be coming off life support, though many caution it will still take time to recover from the worst downturn in a generation.

U.S. companies sent nine drilling rigs back to the West Texas and other oil patches across the country this week, the first significant sign of recovery in the dusty regions that were at the center of the biggest domestic energy boom in 40 years.

It could mark another turning point for the industry, an end to the long financial drought that has devastated the service companies that support thousands of jobs in Houston. It comes just a few weeks before the two-year anniversary of the start of the oil bust.

“It’ll come back,” said Russell Robinson, a corporate salesman at Choice Completions, a 2-month-old oil field services startup in Houston. “You can’t live without oil, unless you want to ride a horse and buggy. You just had some people open the spigot a little more than they should have. We’re all excited it’s coming back.”

To read the full article click here.