Houston, TX – April 5, 2019 – Tally Energy Services, a private equity-backed oilfield services company with a buy-and-build strategy specializing in shale development, has acquired Austin-based ReStream Solutions. ReStream’s latest commercialized technology, FracStream, is a hardware-software service that seamlessly integrates into existing hydraulic fracturing operations to provide real-time, unmanned, frac fluid characterization.
ReStream’s technology monitors, analyzes, and reports on-site frac fluid chemistry, rheology, and physical parameters into and out of the blender. It assures that the stimulation fluids are delivered as designed through every stage, enabling pressure pumpers to manage the challenges of variable water quality and chemical interactions across the whole pad. FracStream immediately identifies unexpected changes in the fluid system, such as friction reducer efficacy, total dissolved solids, and pH, and actively notifies clients in real-time. It replaces manual, periodic fluid sampling of a narrow set of parameters with an automated, continuous stream of high-quality, redundantly-sampled, complete fluid system characterization. FracStream’s real-time fluid characterization is delivered onsite to the datavan and remote command centers enabling proactive management of the stimulation job and accurate downhole net-pressure analyses. FracStream has demonstrated increased pressure pumping productivity through reduced personnel costs, non-productive time, as well as optimized chemical dosing.
“Since 2016, ReStream Solutions has developed innovative and creative solutions for exploration and production operations. Our latest technology, FracStream, gets people off the well site, benefiting operational safety and driving cost savings for frac companies and guarantees E&P companies their frac fluid make-up is as intended,” said Billy Roberts, founder and President of ReStream. “Joining Tally allows us to enhance our capabilities and create new offerings by integrating our technology into other organizations in the Tally family.”
“Tally Energy Services’ mission is to make better wells by focusing on areas most profoundly affecting success: wellbore placement, effective stimulation, and production optimization,” said Chris Dorros, CEO of Tally Energy Services. “ReStream’s technologies and offerings bring a unique service in completions and establishes a digital platform for our overall strategy. We are excited to partner with their team and welcome them to the Tally family.”
Tally Energy has equity sponsorship from RedBird Capital Partners and Sallyport Investments.
About Tally Energy Services
Tally Energy Services is a private-equity sponsored oilfield services company focused on North America shale. Utilizing a buy-and-build strategy, Tally has acquired innovative product and service companies with an aligned vision of helping operators make better wells. We’re specifically focused on helping our clients: (i) place the wellbore accurately and reliably in the pay (ii) stimulate the formation effectively and (iii) produce the reservoir in a dynamic but scalable manner through depletion.
About ReStream Solutions
Through the integration of proprietary software/hardware offerings, ReStream Solutions monitors fluid chemistry in real-time, while automating the chemical application process to resolve potential problems associated with oilfield fluids. ReStream allows its customers to incorporate traditionally disparate and fragmented data into a single, comprehensive framework, which provides real-time characterization of fluid chemistry and production statistics. ReStream Solutions is proud to bring the power of cloud-computing, real-time chemical analysis and application, and SaaS efficiencies to the exploration and production industry: www.restreamsolutions.com
About RedBird Capital Partners
RedBird Capital Partners is a North America-based principal investment firm focused on providing flexible, long-term capital to help entrepreneurs grow their businesses. Based in New York and Dallas, RedBird seeks investment opportunities in growth-oriented private companies in which its capital, investor network and strategic relationships can help prospective business owners achieve their corporate objectives. RedBird’s private equity platform connects patient capital with business founders and entrepreneurs to help them outperform operationally, financially and strategically.
For more information, go to www.RedBirdCap.com.
About Sallyport Investments
Founded by Doug Foshee in 2012, Sallyport Investments provides capital and leadership to companies in the Upstream, Midstream and Service Sectors of the Energy Industry. The firm partners with companies in which it invests, working side-by-side with management teams to create great businesses and long-term value. By staying focused on long-term value creation, Sallyport creates superior investment returns and achieves its own financial and philanthropic goals: http://sallyport.net
Media ContactCompany Name: Tally EnergyContact Person: Dana SummersEmail: Send EmailPhone: 3346634424Address:3104 Edloe Street, Suite 320 City: HoustonState: TexasCountry: United StatesWebsite: www.tallyenergy.com
