Patriot is pleased to announce a subordinated debt investment in Horizon Mud Company, Inc. (“Horizon”). Patriot’s investment helped facilitate Horizon’s purchase of the assets of Mud Masters Group, LLC (“Mud Masters”), a strategic vendor.
Horizon, a 30 year old company headquartered in Midland, TX, is a leading provider of fluid services to E&P operators in the Permian and Eagle Ford Basins. Mud Masters, located in Belle Chasse, LA, develops and manufactures patented, non-synthetic additives to drilling fluids that permit far wider usage of less expensive and more environmentally friendly water-based drilling mud systems in lieu of traditional oil-based mud systems. The two companies have worked closely together over the past year to continue to validate market acceptance of Mud Masters’ solutions. Mud Masters’ management team and staff will continue under Horizon’s ownership.