Houston, TX – December **, 2017 – Gryphon Oilfield Solutions, LLC (“Gryphon”) is pleased to announce that it has secured a significant investment to support its continued technological advancements in the completions and down-hole tool sector of the oilfield service industry. The capital investment comes from Saudi Aramco Energy Ventures, the corporate venturing subsidiary of Saudi Arabia’s national oil company, and CSL Capital Management, a private equity firm that has multiple interests in energy and oilfield service companies. These funds will be used to significantly expand Gryphon’s rapidly evolving dissolvable tool portfolio and support on-going commercialization activities.
“Gryphon Oilfield Solutions is excited about the opportunity to work with Saudi Aramco in developing the next generation of completion tools,” said Ben Weber, CEO of Gryphon. Gryphon’s primary focus is on developing “solution-based” technology that addresses challenges facing operators in conventional and unconventional oil and gas plays around the world. Much of Gryphon’s expanding portfolio of completion tools incorporates unique dissolvable and reactive technologies that enable improved efficiencies and enhanced recovery in the oil and gas industry. “The integration of dissolvable metals and elastomers will be the driver to lower completion costs without sacrificing reliability. This partnership will drive our tool development to meet the most difficult environments and deliver completion solutions that will be useful throughout the world,” said Mr. Weber.
About Gryphon Oilfield Solutions – Gryphon is an Oilfield Completion Tool and Casing Equipment solutions-based company established in 2016. Gryphon is backed by CSL Capital Management, LLC (“CSL”), a private equity firm with multiple interests in energy and oilfield service companies. Gryphon, headquartered in Houston, TX, currently has bases established in Oklahoma, South Texas, East Texas, Midland, Canada and the U.K. Additional sales and service centers are currently being established. For more information, please visit www.gryphonoilfield.com
About CSL Capital Management LLC (“CSL”)– CSL is an SEC-registered private equity firm founded in early 2008 and headquartered in Houston, TX. Since its inception, CSL has raised in excess of $1.5 billion in equity capital and commitments across various investment vehicles and has a focus on investing in small to mid-size energy service businesses, in the U.S. and Internationally. CSL’s current portfolio includes several de novo, growth, recapitalization, and other investments. For more information, please visit www.cslenergy.com
About Saudi Aramco Energy Ventures LLC (“SAEV”) – SAEV is the corporate venturing subsidiary of the Saudi Arabian Oil Company (Saudi Aramco), the world’s leading fully integrated energy and petrochemical enterprise. Headquartered in Dhahran with offices in North America and Europe, SAEV’s mission is to invest globally in start-ups and high growth companies with technologies of strategic importance to its parent, Saudi Aramco. For more information about SAEV, visit www.saev.com