Saturday, May 21, 2022

Caliber Completion Services, LLC Acquires ClearWell’s Wireline Assets Previously Owned by Pioneer Wireline Services, LLC

Caliber Completion Services, LLC (“Caliber”) has successfully completed the acquisition of substantially all the wireline assets from ClearWell Dynamics, LLC’s subsidiary formerly known as Pioneer Wireline Services, LLC.

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Ralph Townsend, the President and Chief Executive Officer of Caliber, earlier announced, “This transformational purchase provides Caliber Completions with an increased geographical footprint along with additional product offerings and service lines to complement Caliber’s legacy wireline offerings in the Permian Basin and Mid-Continent Region. Practically overnight, our seven wireline units under the existing Caliber umbrella multiplied into approximately forty units that are ready for safe field deployment given the talent of the resources operating the assets.”

Furthermore, Kevin Palma, the Chief Operating Officer of B29 Investments, LP (“B-29”) elaborated, “B-29 is very pleased to support Ralph and Caliber in the consolidation effort that needs to occur within the wireline services vertical. This asset acquisition escalates Caliber’s standing to execute its ‘safety strong’ culture with operators that continue to prioritize ESG considerations, and Caliber’s paramount focus of better serving the completion needs of its existing and future customer base is tremendously enhanced.”

In conclusion, Ralph Townsend highlighted, “More expansion details including additional locations, services and a brief introduction of the integrated management team after the acquisition will be posted to Caliber’s website at soon.”

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