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Downhole Technology, LLC and Resource Well Completion Technologies Inc. to Create the Newly-Formed The WellBoss Company

HOUSTON--(BUSINESS WIRE)--

Downhole Technology, LLC and Resource Well Completion Technologies Inc. are pleased to announce that the two companies will be combining on October 1, 2019. These combined businesses, wholly owned by Schoeller-Bleckmann Oilfield Equipment AG, will operate under newly-formed, The WellBoss Company.

Downhole Technology, known for the successful Boss Hog Frac Plug, is the leading manufacturer of high-quality, composite frac plugs used in plug-and-perf multizone fracturing operations.

Resource Well Completion Technologies is a leading innovator and developer of market-leading technologies, including a diverse range of completion, well construction, multi-stage stimulation, and well servicing products.

“We believe combining both businesses into one is a win-win situation for our customers. There is very little overlapping in product offering between the two. On the contrary, we see many complementary offerings across the board,” stated Gerald Grohmann, Chief Executive Officer, Schoeller-Bleckmann Oilfield Equipment AG.

“This is an incredible opportunity to combine two highly-successful, innovative businesses,” said Jeff McNamara, President of Downhole Technology. “WellBoss will be better positioned to increase the velocity of new completion solutions to the market, thereby increasing the value we offer for our oil and gas partners around the world. Our intense focus on solving the oil and gas industry’s completion challenges combined with an execution mindset will separate us from the competition and better serve our customers.”

“WellBoss will be able to offer an extensive sales channel and one of the most diversified completion offerings on the market,” said Colin Atkinson, President of Resource Well Completion Technologies. “Combined with a world-class quality management system and a state-of-the-art innovation pipeline, this venture will allow customers to get more from every completion.”

Upon finalization of the merger, Jeff McNamara will assume the role of President for The WellBoss Company. Colin Atkinson will assume the role of Executive Vice President Global Sales for The WellBoss Company and remain President of the Canadian subsidiary of The WellBoss Company.

About Schoeller-Bleckmann Oilfield Equipment AG (SBO)

SBO is a leading supplier of tools and equipment for directional drilling and well completion applications and the global market leader in the manufacture of high-precision components made of non-magnetic steel. The product offering ranges from complex customized components for the oilfield service industry to high-efficiency solutions and products for the oil and gas industry. As of 31 December 2018, SBO employed a workforce of 1,646 worldwide (31 December 2017: 1,432), thereof, 369 in Ternitz / Austria and 861 in North America (including Mexico).

About Downhole Technology, LLC

A genuine advance in composite plug technology, Boss Hog Frac Plugs revolutionized the industry with unsurpassed efficiency and reliability. Since inception, hundreds of thousands of Downhole Technology frac plugs have been deployed, without presets, in unconventional plays around the world, saving operators up to several hundred thousand dollars per well.

About Resource Well Completion Technologies Inc.

Resource Well Completion Technologies revolutionized the oil and gas industry with the introduction of their Zone Seeker, an open-hole, multi-stage completion system. Resource drastically changed how multi-stage completions and capital costs were viewed around the world. Continuing to adapt to the ever-changing market of technology, Resource also launched Zone Striker, coil-activated frac sleeves, Zone Sealer liner hangers, and Zone Starter toe initiation sleeves. Today, Resource leads the industry with quality systems that are audited and certified by API and ISO to ensure that operators receive the highest and most consistent documented quality in the world.

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