Tejas Completion Solutions Acquires Team Oil Tools

HOUSTON, June 30 /PRNewswire/ -- Tejas Holdings has acquired the assets of
Tulsa-based Team Oil Tools ("Team") in a transaction sponsored by Intervale
Capital ("Intervale"). The combined businesses will be rebranded as Tejas
Completion Solutions ("Tejas").

Team Oil Tools is a highly respected independent manufacturer of packers and
down-hole completion tools. Team was founded in 1997 by Mike Sommers and Don
Tinker, both of whom were previously associated with Arrow Oil Tools. Sommers
will become Tejas' Vice President of Packer Systems Development and Tinker
will oversee Team's existing U.S. Service Centers.

Tejas CEO Thomas Hill commented, "We are excited to partner with Team Oil
Tools to broaden our completion products and services offering. The
acquisition allows Tejas to continue its commitment to technological
excellence for our completion customers. The combination leverages the
manufacturing and distribution capabilities of Team and the design,
engineering and testing resources of Tejas, enabling Tejas to be a leading,
integrated supplier of down-hole completion products."

Curtis Huff, a Managing Partner at Intervale added, "The acquisition of Team
expands Tejas' addressable market in the U.S. to the growing extended-reach
horizontal shale plays. We see tremendous potential in Team's multi-stage,
open-hole T-Frac(TM) zonal isolation systems."

Tejas Completion Solutions now provides a full range of down-hole packer and
wellbore isolation products, standard and premium sand screen products, API-6A
Merla(R) production chokes and Hemiwedge(R) flow control valves, as well as
various gas lift and chemical injection valves. Tejas will continue to
provide customers with engineering and HPHT testing services through its
research lab in The Woodlands, Texas. Tejas is also commissioning a new
27,000 square foot manufacturing facility in Houston, Texas.

About Tejas Completion Solutions:

Tejas was formed in September 2000 by Thomas Hill, Cecil McGavern, and
Winfield Sides, key members of Schlumberger's Camco completions engineering
team, to create an innovative completions company and develop API-14A
subsurface safety valves. Tejas also provides API-6A Merla chokes and
Hemiwedge flow control valves. Tejas' engineering team consists of thirteen
engineers and designers with an average of over 20 years of experience in the
industry. Tejas is based in The Woodlands, Texas.

About Team Oil Tools:

Team was founded in 1997 by Mike Sommers and Don Tinker. Team develops and
manufactures a full line of proprietary and industry standard packers and
packer accessories. Team's packer products include casing, cement,
production, isolation, compression, wireline and cup packers. They also
manufacture tubing anchors, tension and shear tension packers, safety joints,
fluid control valves, bridge plugs and multiple production zone packers. In
addition, Team has designed and built inflatable packers, multilateral
systems, junction boxes and whipstocks. Team recently developed and brought
to market its own proprietary line of horizontal T-Frac packer systems for
both open and cased-hole stimulation in order to target horizontal shale
plays. The T-Frac system can be used in a variety of environments including
sandstone, shale, coal, critical sour, and HPHT. Team is based in Tulsa,
Oklahoma.

About Intervale Capital:

Intervale Capital is a private equity firm, based in Houston and Boston,
focused exclusively on investments in middle-market oilfield services
companies and related technologies. Intervale, together with its predecessor
entities, has ten platform investments.

Contacts: Thomas Hill
Chief Executive Officer
Tejas Completion Solutions
(281) 466-8707

Curtis Huff
Managing Partner
Intervale Capital
(713) 961-0118

Tuan Tran
Vice President
Intervale Capital
(617) 401-8405

http://www.intervalecapital.com

SOURCE Intervale Capital

Thomas Hill, Chief Executive Officer of Tejas Completion Solutions,
+1-281-466-8707; Curtis Huff, Managing Partner of Intervale Capital,
+1-713-961-0118; or Tuan Tran, Vice President of Intervale Capital,
+1-617-401-8405