Lightning Rod and Pipe Announces Acquisition and New Leadership Structure
Houston, November 10, 2017: Lightning Rod and Pipe, LLC (“LRP”) announced the acquisition of the United States division of Rapid Rod Service (“Rapid Rod US”), a Pelican Energy Partners portfolio company (“Pelican”) that provides coiled rod services, including the installation and welding of coiled rod. Rapid Rod US also provides pump changes, parted rod maintenance, pulls and flushes, polished rod changes, packing or stuffing box changes, drive head maintenance and fishing services.
Mike Scott, Managing Director of Pelican, states, “Our goal for Rapid Rod US was to expand the coiled rod service across the US. With this agreement with Lightning Rod and Pipe, both businesses deliver value by combining coiled rod products and services to customers across all major basins in the United States.”
This acquisition triggers a leadership change for LRP that includes Dharmesh Mehta taking the helm as CEO of the company. Mehta, a former COO of Weatherford International, has been an LRP Board of Directors member since early 2016. As CEO, Mehta named L.J. Guillotte as President of Products to oversee manufacturing, sales and development of new and existing products. Mehta also named James Williams as President of Services who will oversee all product installations, field operations and well servicing.
Along with these changes, the company will undergo a name change and will be named Lightning Production Services (“LPS”). The new name follows the focus of the company as a leader in providing engineered solutions that help reduce costs and/or increase production in unconventional wells. The Initial focus is addressing rod and tubing related failures due to abrasion and/or corrosion. The acquisition of Rapid Rod US provides LPS customers with a single-source for products and services in major unconventional resource basins in the US.
Dharmesh Mehta, CEO of LPS states, “With the acquisition of the US division of Rapid Rod and the leadership changes we made in the LPS organization, we are able to provide a unique service to shale operators looking to reduce well failures and ultimately increase production rates. The combination of products and services have demonstrated a 300% increase in run life over the past 12 months”
About Lightning Production Services
LPS works closely with Production Engineers, Field Supervisors, and Asset Managers in large and small organizations that are operating rod pump, plunger lift, gas lift and PCP artificial lift wells, as well as salt water disposal wells. LPS’s solutions mitigate the detrimental effects that deviated wells have on rod and tubing wear without sacrificing capital, time, or safety. The company works together with customers to assemble the best available well data to find actionable insights that will drive the design of either continuous rod, lined tubing, or both.About Rapid Rod Service
Rapid Rod Service is a leading provider of specialty well servicing rigs that perform maintenance and repairs on wells with conventional or continuous sucker rod and other types of artificial lift in the United States and Canada. Since Rapid Rod’s inception in 2008, the company has built an extensive fleet of equipment, providing conventional rod and coiled rod service and maintenance to meet the well-site production needs of its customers. Rapid Rod has expertise in pump changes, parted rods, maintenance, pulls and flushes, polished rod changes, packing or stuffing box changes, drive head maintenance and fishing services. From rod replacement to pump changes and frac isolation, Rapid Rod’s superior fleet of Rod Rigs will minimize downtime and reduce operational costs. The Canadian division of Rapid Rod Service will continue to operate as a separate and independent company.
Contact: Karl Sakocius
Lightning Production Services
1250 Indiana Street
Humble, TX 77396