Two companies celebrate oil rig milestones

Five years after creating Rig Works Inc. as an oil rig servicing company, J.W. Brake’s business unveiled its 100th manufactured oil rig, which also was a first for another company.

The rig is the first purchased by Globe Energy Services, which recently decided to foray into oil well servicing after years of business with its completion systems, fluid services and fishing divisions.

Brake said he has a 40-year history with well servicing equipment and originally opened his Rig Works company to service and refurbish oil rigs. But since a customer gave him the opportunity to build a rig, his company has done that ever since.

“Without God, we wouldn’t have built one rig,” he said. “I feel like it is a big accomplishment (to build 100 rigs in five years) because our market is primarily domestic.”

Brake said besides the benefit to the company of having what he believes may be the largest oil rig order ever from one private company to another, it also benefits the local economy.

The deal is worth about $20 million, he said, and has also compelled the company to hire 30 new employees.

All this success would not have been possible without the Odessa Development Corp. helping the company get on its feet, Brake said. ODC approved an economic development agreement with the company in 2006.

Dan Powers, the vice president of business development for Globe Energy, a Snyder-based oil and gas service company, said recent acquisitions have gained them about 20 other rigs, but this is the first manufactured for the company.

“We believe this is currently the best rig on the market with progressive designs and innovations,” he said.

Rig Works also has a long-term commitment to product service, Powers said, and take care of the companies that buy the products.

Nathan Mastin, vice president of customer and public relations for Globe Energy, said the company has long been planning to enter the oil well servicing industry.

“It’s going to help us expand our horizons in the service of the oil and gas industry,” he said.

Many employees from Globe Energy were present to see the new rig, including the crew that would be working on it, Mastin said.

“It’s very special,” he said. “To see a brand new rig off the floor is big. They get to see it before it’s dirty.”

Mastin also said it allows the employees to see the features Globe Energy has included in the rig and have a better sense of safety.

According to a news release, Globe Energy now offers its services in the Permian Basin area.