Carlyle/Riverstone Commits $30 Million to Stallion Oilfield Services, Ltd.

Houston, TX and New York, NY – Stallion Oilfield Services, Ltd. (Stallion) and Carlyle/Riverstone Global Energy and Power Fund II, L.P. (C/R) announced today C/R’s $30 million capital commitment to purchase limited and general partnership interests in Stallion. The first $11 million of this equity commitment, along with approximately $37 million of debt, will fund four strategic acquisitions and a refinancing of existing company debt. The four acquisitions extend Stallion’s current rig site accommodations service line to include surface equipment rental and solids control services. The remaining commitment will be available to provide equity funding for continued growth initiatives.

Based in Houston, Texas, Stallion provides drill site products and services including accommodation units, surface equipment and solids control equipment for oil and natural gas exploration companies in the Gulf Coast, South Texas, ArkLaTex, Fort Worth Basin, Permian Basin and Rocky Mountain regions. With more than 180 employees in 12 locations and approximately 450 land-based rig support housing units, a fleet of surface rental equipment and significant solids control capability including closed-loop systems, Stallion becomes one of the leading drilling support service providers in the U.S.

According to Craig Johnson, Stallion CEO, "Riverstone brings both capital and energy industry experience to facilitate our acquisition and expansion plans. We are very excited to partner with them in pursuit of the ambitious goals we have set for Stallion."

John Lancaster, C/R Managing Director, said, "We look forward to partnering with Craig Johnson and Stallion’s talented and experienced management team to build a leading company in a segment of the oil services industry that is well positioned for consolidation and growth."

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