Axip Energy Services, LP has sold Aftermarket Services business to Arkos Holdings LLC

HOUSTON, July 31, 2014 /PRNewswire/ -- Axip Energy Services, LP (Axip) has entered into an agreement to sell its aftermarket services business (AMS Business) to Arkos Holdings LLC and certain of its affiliates. The AMS Business includes the provision of aftermarket parts, installation, commissioning, repair and rebuild services for compression and production equipment.

Arkos will operate under the name Arkos Field Services, LP (Arkos). Mr. Daniel B. Cannon, formerly the Senior Vice President, Global Operations for Axip, will serve as Arkos' Chief Executive Officer and will have an ownership interest in the company.

Axip will retain its compression and production equipment fleet and producer services division, supported by the COMMAND™ performance optimization offering. Axip and Arkos will continue to work together on a commercial basis.

About Axip

Axip provides contract compression and production equipment, pre-engineered wellpad solutions, pipelines, and full gathering, processing and treating facilities for upstream and midstream oil and gas operators. Axip operates a domestic compression fleet of over 500,000 horsepower, deployed throughout the most active oil and gas basins in the United States and Gulf of Mexico shelf. Axip focuses on safely providing reliable and flexible services, and is proud to have a 2014 year to date TRIR (total recordable injury rate) of 0.25.

Website: www.axip.com

Media Contact

Chris Wailes
Pierpont Communications
Houston, Texas
713-627-2223
[email protected]

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SOURCE Axip Energy Services, LP