Gordon Technologies Announces Acquisition of Paisano

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Aug 03, 2023, 07:00 ET

SCOTT, La., Aug. 3, 2023 /PRNewswire/ -- Gordon Technologies LLC ("Gordon") is pleased to announce the acquisition of Paisano Labs, LLC ("Paisano"). Paisano provides proprietary gamma detectors and propagation resistivity tools used in the directional drilling sector of the oil and gas industry.

Gordon was founded in 2014 by CEO Terry Frith, a veteran of the measurement-while-drilling ("MWD") sector with almost forty years of experience at the forefront of MWD technology, with the vision to create a faster, more robust and more reliable MWD system than anything available on the market. Mr. Frith said, "Paisano represents an incredible opportunity for Gordon to vertically integrate and continue to advance our proprietary MWD and LWD electronics and sensors. Similar to Gordon's existing MWD systems, Paisano's LWD gamma detectors and propagation resistivity tools were specifically designed for high temperature and high shock and vibration applications. Gordon has tested practically every gamma module available on the market and Paisano outperformed every competitor. We are extremely excited to welcome the Paisano team to Gordon."

Chris Koranek, President of Gordon, commented, "Supply chain bottlenecks have eased since COVID, but the electronics sector continues to experience unacceptable variations in quality and increased lead times due to unexpected increases in demand from both the war in Ukraine and increased fiscal stimulus, specifically the Inflation Reduction Act. Gordon's size and scale allows us to be proactive and the Paisano acquisition better positions us to deliver the product reliability and availability expected by our customers. We are looking forward to working with the Paisano team and are excited to welcome them to the Gordon family."

Don Macune, Founder & Chief Executive Officer of Paisano, said, "Paisano's products are highly complementary to Gordon's existing MWD/LWD systems. LWD gamma detectors are a common point of failure due to the extremely harsh drilling environments. We take great pride in the reliability of our gamma and propagation resistivity technology and couldn't be more excited to secure a long-term partnership with the leading U.S. MWD provider."

Advisors

Reed Smith LLP served as legal counsel.

Gordon Technologies

Headquartered in Scott, LA with additional facilities in Midland, TX, Minot, ND, Oklahoma City, OK, Rapid City, SD and San Antonio, TX, Gordon is a leading independent provider of MWD technology to the directional drilling sector of the U.S. oil and gas industry. The GT-MWD standard temperature system and GT-Heat Miser™ high temperature MWD system, including the patented GT-Shock Miser™ shock and vibration mitigation technology and patented GT-Pulser, were specifically designed to address the most pressing needs in today's challenging drilling environments, namely MWD failures due to high shock and vibration and high temperature environments. The company's proprietary technology creates a faster, more robust and more reliable MWD system that is achieving best-in-class performance and reliability, as evidenced by the company's significant growth in the US unconventional market.

For more information about Gordon Technologies, please visit www.gordontechnologiesllc.com.

Paisano Labs, LLC

Founded in 2011 and headquartered in Houston, TX, Paisano designs and manufactures proprietary LWD gamma detectors and propagation resistivity tools used in the directional drilling sector of the oil and gas industry. Paisano's LWD products were specifically designed for performance and reliability in harsh environments, including high temperature and high shock and vibration.

For more information about Paisano, please visit www.paisanolabs.com.

Terry Frith
Founder & CEO of Gordon Technologies
Email: [email protected]
Phone: 1-337-233-1804

Chris Koranek
President of Gordon Technologies
Email: [email protected]
Phone: 1-337-233-1804

SOURCE Gordon Technologies LLC