DALLAS, June 27, 2019 /PRNewswire/ -- B-29 Investments, L.P. ("B-29") is pleased to announce the formation of Caliber in partnership with industry veteran Ralph Townsend. Caliber offers a comprehensive suite of wireline services to customers facing increasingly complex well completions. Learn more about Caliber at www.calibercompletions.com.
Headquartered in Moore, Oklahoma, the company will initially focus its service operations within the Mid-Continent region. Caliber utilizes leading-edge technology and state-of-the-art equipment designed to enable operators to minimize completion times, to reduce well cost and to optimize production while maintaining a commitment to safety. The company's experienced management team is led by Ralph Townsend, who will serve as President and Chief Executive Officer. "B-29's track record in oilfield services and their team of professionals made partnering with them an easy decision," commented Ralph Townsend. "To date, B-29's expertise and involvement with Caliber has allowed my business plan to quickly transform from concept to reality in near seamless fashion."
"We are very enthusiastic about partnering with Ralph and the team at Caliber," stated Kevin Palma, B-29's Chief Operating Officer. "Their strong reputation in the industry is expected to establish an ideal platform for eventual growth into a multi-basin provider. Working with a start-up oilfield service company is such a unique and exciting privilege and aligns perfectly with B-29's entrepreneurial spirit. Most importantly, though, Ralph and his team are top-notch people, and we are honored to call ourselves partners."
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B-29 Investments, LP, headquartered in Dallas, is a private equity firm focused on making investments in the energy space. Since its inception over twenty years ago, B-29 has made investments in private and public companies exhibiting sound business models within rapidly-growing industries. Traditionally, B-29 has deployed capital to energy opportunities in the oilfield services, exploration and production, and midstream infrastructure markets. More information is available at b29investments.com.
SOURCE B29 Investments, LP