News

Mr. Lee McFarlain has joined Probe as our Chief Financial Officer.With more than 20 years of senior leadership experience, Lee specializes in establishing new businesses, leading companies through periods of rapid growth, and applying technology to drive efficiency and cost savings.

According to Mr. McFarlain, “Probe represents an opportunity to exercise my experience in the Oil and Gas sector. It is exciting to join the Company at this stage, and I am looking forward to collaborating with the team to developing this business to its full potential.”

Federico Casavantes, CEO, expressed, “Lee brings extensive industry knowledge, consolidated through years of experience from his previous CFO roles at Antelope Oil Tool, Contract Land Staff and ROME Corporation. We anticipate this experience will allow us to rapidly improve efficiencies and implement key processes that will lead to improving our business. I am extremely happy to welcome Lee to the team and am looking forward to working with him.”

Jan 8, 2018  – Probe’s Sales Team is growing, and we are happy with the new expertise we are bringing in to better serve our expanding customer base! Steve Beattie comes to Probe with a career spanning over 20 years in Artificial Lift and Reservoir Monitoring Systems. Steve is an exciting addition to the sales organization; his experience and market knowledge will accelerate product sales growth by strengthening existing customer relationships and focusing on developing new accounts. Federico Casavantes, CEO expressed, “We anticipate that Steve will be able to connect well with both existing and new customers. His experience in the downhole and permanent gauge segment will also enable us to focus on key product developments that accelerate commercial release of essential solutions for our expanding global customer base. I am delighted to welcome Steve to Probe.” Probe’s Well Monitoring solutions platform is primarily comprised of Kuster product line applications for well monitoring which includes the K-Perm™ Piezo and Quartz permanent gauge range with iPro™ Surface Wireless Instrumentation.

Probe Technologies Holdings, Inc. (“Probe”) announced it has completed a strategic merger with Hunter Well Science Ltd. (“Hunter”) that significantly expands its product offering to better serve its growing international customer base. By joining forces, Probe and Hunter plan to accelerate the commercial release of a combinable and technologically advanced solutions platform that initially includes Reservoir Evaluation, Production Logging, Well Integrity and Petrophysics tools and services.

“Short-term, the merger of Probe and Hunter will allow us to better serve our existing customers by expanding our combinable technology, and as we work together to continue to improve our focus on customer support, this will also lead to attracting new customers in new geographies,” said Mr. Federico Casavantes, President & CEO of Probe. “Long-term, our partnership will enable us to dramatically accelerate product development, as we move to rapidly fill gaps in the technology used in high-end cased-hole formation evaluation, array production logging and well integrity solutions, and move to integrate Hunter’s state-of-the-art modular tool manufacturing techniques into Probe’s extensive product offering. We’re also very excited to welcome industry veterans Lane Roberts, Martin Barratt and Richard Odom to the Probe family, as many among our respective teams have known each other for many years.”

Mr. Lane Roberts, President & CEO of Hunter added, “On behalf of all of the Hunter Well Science employees and stakeholders, we view this partnership as a unique opportunity to channel increased efforts and investment into new and compatible technologies to continue to help our customers serve their markets with the very best solutions and services. The Probe-Hunter association positions us for continued growth, as we stand together to provide intelligent technology and reliable solutions that address the needs of our sector.”

Mr. Todd Tomlin, partner of Turnbridge Capital, commented: “In July of this year, we joined with Probe managers and employees to recapitalize the company. We are now delighted to be investing further in the expanding Probe-Hunter Well Science team, and we also benefit from prior relationships with Lane and his team. The combination of these companies accelerates delivery of technologically differentiated products. We are very excited about the potential and capabilities of the combined company.”

Financial terms of the transaction were not disclosed.

About Probe

Established in 1994, Probe is widely acknowledged as a leading specialist cased hole logging and reservoir monitoring technology supplier to oilfield services companies around the world. Headquartered in Houston, Probe operates through its extensive network of global representatives and technology and support centers in North America, Latin America, Europe, the Middle East, North Africa and Asia.

About Hunter Well Science

Founded in 2009, with commercial product deployment in 2012 following several years of RD&E, Hunter designs, engineers and produces top tier cased hole technologies and provides petrophysics solutions to oilfield services companies around the world. Primarily focused on pulsed neutron and array production logging tools, Hunter is headquartered in Calgary, Alberta with a Petrophysics, Engineering and Customer Support facility in Arlington, Texas.

About Turnbridge Capital

Turnbridge Capital is an energy-focused private equity firm with offices in Dallas and Houston, Texas. The firm typically invests alongside experienced management teams in companies that provide products and services to the upstream, midstream, downstream, and other energy-related infrastructure segments.

Chris joins Probe with over a decade of customer relations and market experience in the wireline and perforating industry. Prior to Probe Technologies Holdings, Inc., Chris held the position of Wireline Business Development as Senior Account Representative at Halliburton in Aberdeen, United Kingdom.

Chris holds a Bachelor of Science Degree in Environmental Science from Stirling University in the central belt of the Scottish Highlands. Chris’ experience and background will make a welcome and immediate impact for our Global team. He will report to Mike Rennie and be based from our Aberdeen, Scotland office.

Since its introduction during ADIPEC 2016, the Probe iSet™ electro-hydraulic setting tool has performed more than 20 successful setting operations in the Middle East. By setting downhole devices, such as bridge plugs, packers, gauge hangers and straddles, without requiring explosives or lithium batteries, the iSet increases safety and improves operating efficiencies, resulting in overall cost reduction. The operations, which were carried out to set plugs ranging between 4-1/2” and 9-5/8” O.D. in wells of less than 15,000 psi and temperatures to 300oF, took place in Saudi Arabia and Kuwait. “Our customers are impressed with the iSet’s reliability and efficiency,” said Neil Duncan, Regional Manager-MENA & Asia for Probe. “The tool is easy to program and operate, and can be run without redressing between consecutive operations. Our electro-hydraulic design is more efficient than traditional methods used in wells in the Middle East. The big win comes from eliminating explosives and lithium batteries.” As this issue goes to press, Probe has eight iSet tools operating in the region, and projects that number will rise to 20 by December 2018.

Middle East operators embrace improved safety and efficiencies

Why the rapid rise? As operators strive to contain costs while maximizing production, they’re also keen to embrace safer alternatives, particularly for well intervention and abandonment operations that require the use of setting tools. Because the iSet is a non-ballistic device, it’s safe and requires no special permits to use or transport, so there are no complex logistics to cause delays. Plus, it can run 50 setting operations before redressing is necessary. Between runs, the tool is prepared in under 30 minutes. All that’s required is to reset and program the tool for the next run. Looking ahead, rising numbers of operators in the Middle East are joining those in the North Sea, Continental Europe and West Africa that rely increasingly upon the iSet to deliver safe, reliable and cost-effective setting operations. The iSet is on display at Probe’s Stand 4110, Hall 4 at ADIPEC 2017.

At Probe, talent matters. Every day, we put our talent to the test to devise the best solutions for our customers.

Our expanding solution platforms covers ancillary, conveyance optimization, downhole instrumentation, formation evaluation, geothermal and UHT logging, memory logging, production logging, surface systems, well integrity, well intervention, well monitoring and wireless instrumentation applications.

Our strong domestic and expanding global presence in every major hydrocarbon-producing region allows us to respond rapidly to our customer’s ever-changing needs. Probe is committed to expanding our reach and product portfolio as we continue to lead the market.