HOUSTON – September 2, 2015 – Nine Energy Service, Inc. (Nine), an oilfield services company that offers completion, wireline and cementing solutions, has acquired certain assets of G 8 Oil Tool a/k/a Pat Greenlee Builders, LLC (G 8). Located in Athens, Texas, G 8 provides high-quality downhole completions tools, including a full range of composite plugs used for plug, perforate and fracture applications. G 8 is the creator and exclusive provider of the Scorpion Composite Plug®.
The acquisition of G 8 expands and diversifies Nine’s offerings by adding a fully composite plug in multiple sizes, including a 5-1/2” extended range plug used for operations within restricted wellbores as well as workover applications.
“The acquisition of the Scorpion Composite Plug® gives Nine a strong foothold in the composite plug market throughout North America,” said Ann Fox, President and CEO of Nine. “We will now be able to offer our customers our own fully composite plug along with our completion services, creating a tremendous growth opportunity for Nine.”
As part of the transaction, Don Greenlee, G 8’s owner and principal engineer, will join Nine to continue the development of the Scorpion Composite Plug® and related downhole technologies. Don brings over 38 years of industry experience and expertise to Nine.
“We are thrilled about our partnership with Nine,” added Don Greenlee. “With Nine’s footprint and strong customer relationships, we are confident that we can grow the business and provide operators with a high-quality, fully composite plug.”
Chris Payson, President of US Completions, and an Executive Vice President for Nine stated, “Nine can now offer customers a variety of fully composite plugs ranging from 3-1/2” to 5-1/2” with a proven track record of success. The 5-1/2” extended range plug provides customers with a unique opportunity to operate within a restricted wellbore I.D. with a 3.78” O.D. that sets in casing ranges from 3.98” to 4.78”. We look forward to working with Don to make Nine a premier composite plug provider in North America.”
Vinson & Elkins L.L.P. acted as legal counsel to Nine in this transaction.
About G 8 Oil Tool
G 8 Oil Tool is a leading provider of high quality downhole tools used in the oil and gas industry. G 8 is based in Athens, Texas, and services customers in major U.S. oil and gas markets, including the Marcellus, Utica, Permian and Eagle Ford.
About Nine Energy Service, Inc.
Nine Energy Service, Inc. is a leading North American onshore completion and production services provider that targets unconventional oil and gas resource development. Nine partners with exploration and production customers across all major onshore basins in both the U.S. and Canada to design and deploy downhole solutions and technology to prepare horizontal, multistage wells for production. Nine is headquartered in Houston, Texas with operating facilities in the Permian, Eagle Ford, MidCon, Barnett, Bakken, Rockies, Marcellus, Utica and throughout Canada.