Liberty Lift Solutions acquired the assets of Spooling Technology LLC (Spool Tech) located in Dickinson, N.D., servicing the Bakken for an undisclosed amount.
Spool Tech provides downhole chemical injection solutions, specializing in capillary tubing and cable spooling. Founded in March 2018, the company is led by Dan Lessen, co-founder and vice president of operations, alongside his wife, Danielle, who serves as president. They’re joined by Jaydn Foster, operations manager at Spooling Tech.
“We are excited to have Dan, Danielle, Jadyn and the entire Spool Tech Team join Liberty” Logan Evans, vice president of U.S. operations at the Houston-based company, said in a statement on Nov. 2.
“They have a top-notch reputation in the Bakken for providing the very best people and equipment, and their track record for service excellence is second to none,” Evans continued. “Additionally, their product and service offering fits nicely with our growing presence in the region and helps as we strive to be the market leader as a solutions provider in the artificial lift space.”
The Spool Tech acquisition follows Liberty Lift’s asset acquisition in April 2022 of Elite Lift Solutions LLC and Powder River Hydraulics LLC, with facilities in Dickinson and Williston, North Dakota, as well as Gillette, Wyoming.
In January 2022, Liberty Lift also announced the purchase of Corral Oil Field Services LLC, a family-owned and -operated artificial lift company in the Permian Basin.
Recommended Reading
Hess Corp. Boosts Bakken Output, Drilling Ahead of Chevron Merger
2024-01-31 - Hess Corp. increased its drilling activity and output from the Bakken play of North Dakota during the fourth quarter, the E&P reported in its latest earnings.
The OGInterview: Petrie Partners a Big Deal Among Investment Banks
2024-02-01 - In this OGInterview, Hart Energy's Chris Mathews sat down with Petrie Partners—perhaps not the biggest or flashiest investment bank around, but after over two decades, the firm has been around the block more than most.
Some Payne, But Mostly Gain for H&P in Q4 2023
2024-01-31 - Helmerich & Payne’s revenue grew internationally and in North America but declined in the Gulf of Mexico compared to the previous quarter.
Petrie Partners: A Small Wonder
2024-02-01 - Petrie Partners may not be the biggest or flashiest investment bank on the block, but after over two decades, its executives have been around the block more than most.
BP’s Kate Thomson Promoted to CFO, Joins Board
2024-02-05 - Before becoming BP’s interim CFO in September 2023, Kate Thomson served as senior vice president of finance for production and operations.