Houston, TX - June 28, 2013 - Pelican Energy Partners LP ("Pelican") is pleased to announce the majority recapitalization of Rapid Rod Service, Ltd ("Rapid Rod"), based in High River, Alberta, Canada. Rapid Rod is one of Canada's largest providers of rod focused artificial lift related services. Rapid Rod provides complete, accelerated and cost effective installation of coiled rod with specialized, purpose built coiled rod equipment. Rapid Rod also performs installations, maintenance and repair of conventional sucker rod with specialized equipment that performs these services with greater speed and safety than conventional work-over rigs.
Two of the founding members of Rapid Rod, Dean Halifax and Justin Clingman, are maintaining their ownership in the company and will be an integral part of the management team going forward. Mike Scott, Managing Partner of Pelican said, "Dean and Justin are highly experienced in both coiled rod and conventional rod services and have successfully grown Rapid Rod from its inception in 2008 to one of the leading providers in Canada today. We are delighted to become partners with them and work together to continue the impressive growth trajectory of Rapid Rod."