Gryphon Oilfield Solutions, LLC, a Houston, TX-based an Oilfield Completion Tool and Casing Equipment solutions-based company, secured a significant investment of undisclosed amount.
Backers included Saudi Aramco Energy Ventures, the corporate venturing subsidiary of Saudi Arabia’s national oil company, and CSL Capital Management, a private equity firm with multiple interests in energy and oilfield service companies.
The company will use the funds to expand its dissolvable tool portfolio and support on-going commercialization activities.
Led by Ben Weber, CEO, Gryphon focuses on developing “solution-based” technology that addresses challenges facing operators in conventional and unconventional oil and gas plays around the world. Much of Gryphon’s expanding portfolio of completion tools incorporates unique dissolvable and reactive technologies that enable improved efficiencies and enhanced recovery in the oil and gas industry.
The company has bases established in Oklahoma, South Texas, East Texas, Midland, Canada and the U.K. with additional sales and service centers currently being established.