A Washington, D.C.-based equity firm is merging two of its oilfield service companies: Broussard-based Wellsite Rental Services LLC and Viking Oil Tools of The Woodlands, Texas.
The merged company will be called Wellsite Fishing and Rental Services LLC, according to NGP Energy Technology Partners, majority owner of Wellsite Rental and Viking Oil Tools. NPG, which also has an office in New Orleans, typically invests between $5 million and $30 million in companies that service the energy industry.
The two companies offer complementary services in well completion and remediation, which makes the combination a great strategic opportunity for both, said Michael LeBourgeois, managing director of NGP.
After the merger, Wes Heiskell, former president and CEO of Viking will serve as Wellsite’s president. Mark Johnson, current president of Wellsite, will serve as the chief operating officer of the combined company.