Wellsite Rental Services has received an equity investment from NGP Energy Technology Partners and the Wellsite management team, the company said. Wellsite provides oilfield rental equipment to its customers in the oil and gas business. WRS provides rental tubing and associated handling tools, specialty, cooling and heating trailers, automated slips, variable bore rams and other equipment designed to reduce drilling and completion costs.
WRS is based in Broussard, La., and also has facilities in Tulsa and Victoria, Okla. The company, founded by Kirby Arceneaux, is led by a management team with more than 100 years of collective experience in the oil and gas industry.
Fred Fondren and Jessica Roger, initial investors in the company, also strengthened the management team. Mark Johnson, president of Wellsite, recently joined the leadership team after senior executive roles at CSI Inspection, Allis Chalmers, and Oil & Gas Rental Services. WRS recently appointed Rex Ferrier vice president – Texas operations.
“Wellsite Rental Services is led by a seasoned team of oilfield service executives with proven track records of delivering value to customers and a commitment to health, safety and quality standards,” said WRS’ chairman Kirby Arceneaux. “We are excited to partner with NGP ETP again to build a company with first-class customer service, personnel and equipment. NGP ETP’s capital and its experience partnering with growing oilfield service companies will help Wellsite expand its footprint and product offering while responding quickly to its customers and delivering the best solution. Our success is driven by providing our customers with the highest quality services in the industry.”
“By combining the industry expertise of the Wellsite team with the resources and experience of the NGP ETP platform, we anticipate significant long-term growth potential and look forward to working side by side with Kirby and the team to build the business,” added Michael LeBourgeois, managing director of NGP EPT.
Phil Deutch, managing partner of NGP ETP touched on the basic philosophy of NGP EPT, saying the company was formed “with the thesis that a core focus of energy technology investing in deploying capital in innovative and compelling products and services targeting the oil and gas industry.” Deutch said Wellsite is a prime example of the strategy.