Gryphon Oilfield Solutions Receives a New Round of Funding from Saudi Aramco Energy Ventures and CSL Capital Management

HOUSTON–(BUSINESS WIRE)–Gryphon
Oilfield Solutions, LLC (“Gryphon”) is pleased to announce that it
has secured a significant investment to support its continued
technological advancements in the completions and down-hole tool sector
of the oilfield service industry. The capital investment comes from
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 funds will be used to significantly expand
Gryphon’s rapidly evolving dissolvable tool portfolio and support
on-going commercialization activities.

“Gryphon Oilfield Solutions is excited for the opportunity to work with
Saudi Aramco in developing the next generation of completion tools,”
said Ben Weber, CEO of Gryphon. Gryphon’s primary focus is 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
integration of dissolvable metals and elastomers will be the driver to
lower completion costs without sacrificing reliability. This partnership
will drive our tool development to meet the needs of difficult
environments and deliver completion solutions that will be useful
throughout the world,” said Mr. Weber.

About Gryphon Oilfield Solutions – Gryphon is an Oilfield Completion
Tool and Casing Equipment solutions-based company, established in 2016.
Gryphon is backed by CSL Capital Management, LLC, a private equity firm
with multiple interests in energy and oilfield service companies.
Headquartered in Houston, TX, Gryphon has bases established in Oklahoma,
South Texas, East Texas, Midland, Canada and the U.K. Additional sales
and service centers are currently being established. For more
information, please visit www.gryphonoilfield.com.

About CSL Capital Management LLC (“CSL”) – CSL is an SEC-registered
private equity firm founded in early 2008 and headquartered in Houston,
TX. Since its inception, CSL has raised in excess of $1.5 billion in
equity capital and commitments across various investment vehicles. The
firm’s focus is on investing in small to mid-size energy service
businesses, in the U.S. and Internationally. CSL’s current portfolio
includes several de novo, growth, recapitalization, and other
investments. For more information, please visit www.cslenergy.com.

About Saudi Aramco Energy Ventures LLC (“SAEV”) – SAEV is the corporate
venturing subsidiary of the Saudi Arabian Oil Company (Saudi Aramco),
the world’s leading fully integrated energy and petrochemical
enterprise. Headquartered in Dhahran with offices in North America,
Europe and Asia, SAEV’s mission is to invest globally in start-ups and
high growth companies with technologies of strategic importance to its
parent, Saudi Aramco. For more information, please visit www.saev.com.

Contacts

Gryphon Oilfield Solutions
Benjamin Weber, CEO
281-738-3110
[email protected]