Prime provides engineered downhole tools, precision machining, project management, and repair services for drilling applications, including breakout machines and bucking units. With existing assets and product lines in place, the company focuses on tools consumed primarily in development and production of unconventional basins domestically and internationally. Prime intends to build a diversified oilfield equipment manufacturing platform through organic growth and strategic acquisitions. The senior management team is led by CEO Leif Syversen, whose team previously helped build BasinTek and Dyna-Drill. The Prime management team will co-invest alongside new capital partners. The company recently secured new equity capital to support its growth and acquisition strategy.

Total raised

$50M

Funding rounds

1

Latest round

Equity

Latest activity

Jan 2019