MIDLAND, Texas, March 15, 2021 /PRNewswire/ -- Ace Completions and Terra Oilfield Services announce the formation of Ace Fluid Solutions (AFS). Headquartered in Midland, Texas, AFS is a leading provider of specialty stimulation chemicals, water sourcing program management, water treatment, water transfer, and in-field technical support to operators and pumping companies in the most active US shale plays. AFS will leverage its newly combined resources and expertise to set a new standard in fluid services by focusing on adaptive chemistries, best-in-class service, and proven water program management. AFS has over thirty acres of rail-supported operations in West Texas supporting both chemical and water operations with additional satellite operations across Texas, New Mexico, and Oklahoma providing a full suite of products and services closer to its customers. AFS supports major operators in well completion while maintaining the flexibility and responsiveness needed to service independent operators and pumping companies.
"This is a growth story, not one of survival; both of these companies were market-dominant in their own right, and we are extremely proud of our combined capabilities," said Stacy Racca, CEO of AFS. "This new partnership brings together the unique strengths of these highly technical companies, allowing us to offer our customers the best fluid products, services, and laboratory capabilities. Our customers have seen immediate benefits from this combined platform. Our strength is not only in our capabilities, but also in our management team, many of whom are the original companies' founders. Without them, AFS would not be the success it is today," said Racca.
"OFS Energy Fund has been an investor in Ace Fluid Solutions for several years and we have been impressed with the unique oilfield water and chemical expertise the Company has developed," said Jerad McMayon, Partner at OFS Energy Fund. "AFS was formed to bring together an independent, adaptive water platform of scale that has the products, services, infrastructure, and laboratory capabilities to serve both large and small customers while maintaining the service quality and customer-first approach of a small independent company."
About Ace Fluid Solutions
AFS provides unique fluid solution offerings that span from sourced water to stimulation chemicals to support the end-to-end frac process. AFS guarantees the most economical, performance-based fluid supply solutions and systems. AFS' combined frac chemistry and water capabilities (e.g., sourcing, recycling, blending, and logistics) support operators in successfully completing fracs. AFS is primarily focused on the Permian Basin with additional locations in the Eagle Ford, Mid-Continent, and Haynesville Shales.
About OFS Energy Fund
OFS Energy Fund is a private equity firm focused on investing in lower, middle-market energy services and equipment businesses. OFS leverages extensive industry and operational experience from the firm's managers and investors, many of whom are active or former CEOs and entrepreneurs. OFS shares its best practices, technology trends, market research, and contacts across its expanding portfolio of oilfield services companies to benefit all investments. OFS strives for its portfolio companies to create sustained value for their employees, customers, and investment partners. Learn more at www.ofsfund.com.
SOURCE Ace Fluid Solutions