Mike Reeves, President and Chief Executive Officer of Rubicon (photo: Rubicon)
Rubicon Oilfield International has announced that it has acquired Tercel Oilfield Products, an oilfield products company recognised for delivering valuable drilling and completion technologies, from Lime Rock Partners. Terms of the transaction were not disclosed.
This transaction establishes Rubicon’s global platform for delivery of well construction solutions. Backed by a significant capital commitment from Warburg Pincus, a leading global private equity firm, Rubicon will invest in the accelerated growth of Tercel product lines, enabling Tercel employees around the globe to deliver even greater value to their customers.
“We are extremely excited by the opportunities this transaction creates. The combination of Tercel’s highly talented employees and industry recognised technologies with Rubicon’s financial strength will deliver compelling value to our customers around the world,” says Mike Reeves, President and Chief Executive Officer of Rubicon. “The dedication, passion and urgency of our now-expanded Rubicon team will ensure we fulfil our commitment to deliver Practical Innovation(TM) in support of our clients as they explore and produce energy in ever more complex environments.”