Patriot Well Solutions Investment Commitment

Houston, TX (January 1st, 2021) – White Deer Energy reaffirms its commitment to Patriot Well Solutions.

White Deer Energy (“White Deer”) has reaffirmed its commitment to Patriot Completion Solutions LLC dba Patriot Well Solutions (“Patriot” or the “Company”) following a restructuring process that was completed on October 6th, 2020. The commitment to the Company going forward includes certain agreed upon additional investments in equipment and facilities to fund the ongoing and future growth of the Company.

Jim Meneely, Partner at White Deer at White Deer, commented, “Patriot has distinguished itself as a premier oilfield services company with a solid management and operations team. They have built a strong operating platform with robust processes and safety systems that will support ongoing growth. We look forward to our continuing partnership with the Patriot team through the ongoing market recovery.”

Patriot is an established oilfield service company with facilities based in North Dakota, Wyoming, Colorado, New Mexico, and Texas.  The Company is a leading supplier to its customers with solutions to address well completion, production and intervention needs, which has made the Company a preferred provider across its market segments. The Company is focused on providing customers with safe, efficient, and high-quality wireline, perforating and pressure pumping services.

Patriot has a strong balance sheet and operating platform upon which it can grow. The Company is in the enviable position of having a strong and committed financial sponsor to capitalize on opportunities in current market conditions and in the nascent recovery as it unfolds. The Company is in the process of making additional investments in equipment, upgrades, and facilities.

“We have grown quickly but in a disciplined fashion over the past several years with a great team and operating platform. The recent downturn has been a challenge for the industry, but Patriot has been fortunate to be able to work with White Deer to reconfigure our business for the new realities of the market and continue to provide safe and high-quality service to our customers,” commented Dragan Cicvaric, CEO of Patriot.

Contact:
Jim Meneely
Partner; White Deer
jmeneely@whitedeerenergy.com

Dragan Cicvaric
Chief Executive Officer, Patriot
dragan.cicvaric@patriotwell.com

About White Deer (whitedeerenergy.com):
White Deer is a middle market private equity firm that invests in energy and industrial services and equipment companies and midstream infrastructure. The firm relies on a thematic, research-based investment approach and deep industry knowledge to create sustained value for its companies, investment partners and employees. The firm, which is based in Houston and New York, has raised more than $2.7 billion of committed capital since its founding in 2008.

About Patriot (patriotwell.com):
Founded in 2015, Patriot is an oilfield services company that provides a comprehensive suite of cased-hole wireline and pumping services to oil and gas exploration and production companies primarily in the Rockies, Bakken, Permian, and Eagle Ford regions.

Nothing set forth in this release shall be construed as an obligation of White Deer to provide any funding or additional investments to the Company or to confer upon, or give to any person any benefits, rights or remedies under or by reason of, this note.