Axis Energy Services Announces Company Launch
LONGVIEW, Texas--(BUSINESS WIRE)--Nov 5, 2018--Axis Energy Services, a new workover and completion specialist formed from the combination of TEC Well Service, Momentum Pressure Control, and M6 Energy Services, announced its launch today.
Already serving major oil and gas companies and leading independents in basins across the U.S., Axis is the first purpose-built well servicing company focused on optimizing completions on long-lateral shale wells. The company accomplishes this mission through integrated, data-driven services, a leading-edge training culture, and purpose-engineered equipment that forms one of the highest spec fleets in the well servicing sector.
Axis offers frac plug drill out, tube up, well servicing, pressure control, pumping, acid, and nitrogen services from four operating bases. The company has launched a revolutionary approach to completions and workovers with integrated solutions that start before Axis is brought on site, using data to minimize drill out times, reduce downhole incidents, and drive continuous improvement.
Approximately 50% of the Axis rig fleet is 24-hour capable with mast heights 110’ feet or greater. The company also provides a fleet of pressure control and snubbing equipment and a wide range of high horsepower pumps for pumping services. Axis is currently completing a year-long build-out program focused on creating the industry’s leading shale-capable fleet of rigs and associated equipment.
Wendell Brooks, CEO of Axis Energy Services, said: “For too long, E&P companies in the U.S. have had two choices for completions. They could use coiled tubing with reliability issues in longer laterals, or stick pipe requiring too many companies on site—often without the right equipment or crews. The mission of Axis is simple: to offer our customers a third option to reach new levels of efficiency, reliability, and profitability while simplifying completion operations.”
John Schmitz, Executive Chairman of Axis, added: “As the shale revolution enters the phase of capital efficiency and manufacturing growth, operators can’t afford to have legacy business plans and equipment slow them down or eat into their returns. We formed Axis based on listening to our customers on the new business model and new equipment needed to get wells to production optimally and quickly.”
Axis was formed with the investment partnering of B-29 Investments and Lime Rock Partners.
For more information, visit www.axisofs.com.
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CONTACT: Daddi Brand Communications
Bill Daddi, 646-370-1341
KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: ENERGY OIL/GAS OTHER ENERGY TECHNOLOGY DATA MANAGEMENT MANUFACTURING ENGINEERING
SOURCE: Axis Energy Services
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PUB: 11/05/2018 05:08 PM/DISC: 11/05/2018 05:08 PM