Regiment Improves Carbon Footprint with Divestment of Certain Pressure Pumping Assets; Acquires Additional Tier 4 Assets
MIDLAND, Texas, Oct. 14, 2022 /PRNewswire/ — Regiment, LLC (“Regiment”), a growth-oriented pressure pumping rental and service company based in Midland, TX, is pleased to announce the divestment of their Tier 2 pressure pumping assets to an undisclosed party. Regiment recycled a portion of the proceeds into the acquisition of additional emissions friendly Tier 4 assets, creating the largest exclusively Tier 4 pressure pumping rental fleet in the world. Regiment has plans to further expand its operations both domestically and internationally in 2023.
“This transaction highlights our team’s continued commitment to building quality, high-spec, emissions conscious assets” said Regiment’s Founder and CFO Marcus Minton. “We are committed to providing our customers with leading edge equipment, with plans for further technology additions in 2023.”
Regiment is a portfolio company of Energy Founders Fund, LP. “We continue to see expansion opportunities in the Permian Basin and are thrilled to support Regiment’s continued growth” added John Donovan, Energy Founders Fund’s Managing Partner. “Regiment’s growing asset based and expanded service lines will enable the team to meet rebounding demand from current customers, as well as expand to meet new customer needs”
Founded in 2017, Regiment is a boutique energy services provider focused on pressure pumping and rentals in the energy industry. The Company operates large-scale pumps, primarily for pump down and frac operations, and operates the largest exclusively Tier 4 rental pressure pumping fleet globally.
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SOURCE Regiment, LLC
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