Oilfield service companies Performance Wellhead & Frac Components Inc. and Permian-focused Slingshot Supply Inc. have merged together, Pelican Energy Partners said Feb. 14.
Houston-based Pelican is the financial partner which supported the recapitalization and combination of the companies. The terms of the transaction weren't disclosed.
The combination is expected to provide a larger asset base spanning drilling, completion and production products across Arkansas, Louisiana, Oklahoma and Texas. The two companies will also continue to operate under their legacy names due to minimal geographic overlap, the release said.
Performance, based in Houston, was founded by Gerry Ferguson in 2006. The company provides surface well-control equipment and related field services utilized in all phases of drilling, well stimulation, production and intervention operations throughout Arkansas, Louisiana, Oklahoma and Texas.
Slingshot, based in Odessa, Texas, was founded by Jeff Helmcamp in 2011. The company provides BOP rental and repair and equipment for artificial lift systems to the Permian market.
Ferguson will be CEO of the combined business with Helmcamp as COO.
Performance also has locations in Kilgore, Odessa and Pleasanton, Texas, as well as Broussard, La., Woodward, Okla., and Conway, Ark.