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Paragon ISG Acquires Cinco Mud Solutions LLC
News provided byEIN Presswire
Jan 25, 2023, 4:22 PM ET
Adding deep drilling fluids experience and differentiated eco-friendly proprietary drilling fluids productHOUSTON, TEXAS, USA, January 25, 2023 /EINPresswire.com/ -- Paragon ISG, a leading provider of energy and environmental services across the country, is pleased to announce the acquisition of the Cinco Mud Solutions team and related assets. The team of Scott Jackson and Mark Lemon bring a combined 70 years of drilling fluids experience and an environmentally friendly shale inhibitor and hydration suppressant called LG-100.
The proprietary LG-100 additive provides superior inhibition and wellbore stability to water-based drilling fluid systems. LG-100 not only provides the versatility of formulating a system to meet the operator‘s needs but also exhibits durability and can be re-used on multiple well pads in today’s unconventional shale plays.
“I’ve been a mud engineer for 44 years and this is a product that works as advertised,” said Mark Lemon, Partner at Cinco Mud Solutions. “We’ve helped operators deploy LG-100 on hundreds of unconventional and conventional wells across the US and internationally, achieving superior results while also eliminating excess costs associated with oil-based mud.”
“Bringing in the experienced Cinco team and their LG-100 product will unlock the next phase of growth for Paragon ISG’s drilling fluids services,” said Chris Pennington, President of Paragon ISG. “Our ability to offer the latest in drilling fluids technology to our customers will help them achieve higher efficiencies while also doing so with a more environmentally friendly, water-based fluid system.”
“We’re also excited for the opportunity we see in HDD (Horizontal Directional Drilling) and geothermal drilling markets,” said Scott Jackson, Partner at Cinco Mud Solutions. “The same benefits that operators realize in the energy industry can also be applied for underground pipelines, service conduit, fiber optics and more.”
About Paragon Integrated Services Group LLC
Headquartered in Houston and founded in 2020, Paragon ISG is committed to help customers reduce the amount of fluids required to drill, to remove unwanted solids from industrial processes, and to restore natural environments to a more pristine state. Paragon ISG is owned by Palladium Equity Partners, LLC. For more information on Paragon ISG, please visit www.paragonisg.com.
About Palladium Equity Partners, LLC
Palladium is a middle market private equity firm with nearly $3 billion in assets under management. The firm seeks to acquire and grow companies in partnership with founders and experienced management teams by providing capital, strategic guidance and operational oversight. Since its founding in 1997, Palladium has made 36 platform investments and 141 add-on acquisitions.
Palladium is a signatory of the United Nations supported Principles for Responsible Investment (PRI). The PRI is recognized as the leading global network for investors committed to integrating environmental, social and governance (ESG) considerations into their investment decision making. For more information on Palladium, please visit www.palladiumequity.com.
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