February 29, 2016
CALGARY, Alberta, Feb. 29, 2016 /CNW/ — Tier 1 Energy Solutions Inc. (“Tier 1 Energy”) has entered into an exclusive partnership with Delphian Ballistics Inc. (“Delphian”). Led by Stuart McLeod, Paul Lynch and Serena Arif, Delphian Ballistics has an absolute focus on improving well productivity by building a better perforating system.
TriStim is Delphian’s unique and patented technology that harnesses the power of shockwaves to deliver a bigger, cleaner and deeper perforation. Tier 1 Energy will be the exclusive service provider of Delphian’s TriStim technology in Western Canada. TriStim offers a smarter way to perforate because it sets out to do something unique based on the physics of ballistics.
By applying precision ballistics engineering to the age old process of perforating, TriStim is able to offer significant improvements in well productivity and enhanced fracture dynamics by harnessing the power of shockwaves. TriStim uses three shaped charges in concert. Not just one shaped charge, as with conventional perforating systems, but three. The triple charge convergent configuration makes TriStim unique.
Tier 1 Energy is a market leader in pumpdown perforating wireline services while offering a complete package of cased-hole wireline and completion services to the WCSB. The Company is headquartered in Edmonton, Alberta, with service centers and sales offices in Grande Prairie, Leduc, Lloydminster, Red Deer, Provost, Swift Current and Calgary. Tier 1 Energy (https://www.tier1energy.ca/) is backed by Intervale Capital.
Kevin O’Dwyer, President of Tier 1 Energy, said “We are extremely pleased to partner with Delphian Ballistics. Delphian’s TriStim technology enhances Tier 1 Energy’s focus on providing innovative solutions to the wireline market in Western Canada.”
Stuart McLeod, Managing Director of Delphian Ballistics Ltd, commented “TriStim is a differentiating technology responding to the current global market needs of maximizing production whilst reducing overall costs. We need to be selective of who we collaborate with to achieve our goals and we’re delighted to be partnered with Tier 1 Energy for the Western Canada market.”
Intervale Capital is an energy-focused private equity firm with offices in Houston and Boston. Intervale invests primarily in middle-market energy services and manufacturing companies and related technologies. The firm has raised $1.3 billion of committed capital since its inception in 2006 and is currently investing from its third fund.
Intervale portfolio companies include Tier 1 Energy Solutions (wireline and completions in Canada), TEAM Oil Tools (completions equipment and services), Aegis Chemical Solutions (oilfield chemicals, water treatment and water transfer), Certus Energy Solutions (diversified oilfield rental equipment), Antelope Oil Tool (casing and cementing products) and Epic Lift Systems (artificial lift and compression), among others.
SOURCE: Tier 1 Energy Solutions
CONTACT: Rob Sutherland, 403-407-8500
RELEVANT LINK: delphianballistics.com