Basin Announces the Launch of Black Diamond Deepwater

NEW YORK, December 10th, 2014 - Basin Holdings, a global energy and industrial holding company, announced the launch of Black Diamond Deepwater. Black Diamond Deepwater will operate through Basin Services, a division of Basin Holdings that provides rental and services solutions to a global customer base.

Black Diamond Deepwater rents and services drill pipe, landing strings, heavyweight drill pipe, drill collars, tubing, blow preventers, and tooling for offshore customers. The company is a wholly owned subsidiary of Black Diamond, a Basin Holdings operating company offering the same services to onshore customers.

The company is led by its CEO, Bob Gibbens. Mr. Gibbens commented, “Our deepwater operations will bring the same level of customer service and technical expertise to a new customer base. We have assembled an experienced team, expanded into new facilities, and acquired inventory to meet the needs of the deepwater market.”

Rod Beeler, the President of Basin Services, added, “Bob has built an incredible company in Black Diamond. We are excited to support him again in this new venture. We are confident that customizing the Black Diamond formula for customers operating in deepwater will result in another successful business.”

About Basin Holdings

Basin Holdings is a privately held industrial holding company focused on providing market leading products and services to energy companies around the world. Our talented, experienced managers oversee a global platform that offers supply chain management services, oilfield services and specialty equipment manufacturing. We are focused on long-term economic value creation and community impact. We apply an entrepreneurial mindset to everything we do. Find us at www.basinholdings.com.