History

Gardner, Mohrbacher and Perry (1993–2002)

SolstenXP was founded in October 1993 by Bob Gardner, Jesse Mohrbacher and Sherron Perry as Fairweather E&P Services, Inc. (FEPSI) which was one of several Fairweather companies partially owned by Sherron Perry at the time. FEPSI’s primary service suite was initially project management and supervision for drilling operations in Alaska. The Company’s first project was the overall management and supervision for the Amerda Hess Northstar No. 3 exploration well in the Beaufort Sea.

From this start, the Company grew to include additional services such as contract drilling engineering and supervision, production operations, remote well abandonment, offshore operations and other upstream special project support to the oil and gas industry. In 1997, FEPSI executed one of the Company’s flagship projects, the turnkey drilling of the ARCO Warthog No. 1 exploration well in the Beaufort Sea. For this project, FEPSI was awarded a turnkey contract in March of 1997 and performed all permitting, planning, engineering and contracting services for an offshore Beaufort Sea well with a subsequent spud date of November 15, 1997. Never before or since has an offshore well been successfully drilled in the Beaufort Sea with such little lead time and low cost.

Gardner, Mohrbacher, Perry, Kennedy and Penrose (2002)

In 2002, two employees, Tom Kennedy and Bill Penrose, became partners in FEPSI. During this time, FEPSI had offices in several lower 48 locations including Ventura, California, Houston, Texas and Mandeville, Louisiana whereby the Company served the offshore markets in California and the Gulf of Mexico providing upstream development and decommissioning services in addition to its core business in Alaska.

Mohrbacher, Perry, Kennedy and Penrose (2002-2005)

In December 2002, Bob Gardner sold his stock to the remaining partners, stepped down as President of FEPSI and was succeeded by Jesse Mohrbacher as President. Over the next three years, the lower 48 offices of FEPSI were either closed or sold to refocus the Company’s efforts in Alaska. During this process, Tom Kennedy sold his FEPSI stock to the Company and took over FEPSI’s former California operations. It was also during this time that FEPSI entered into its first native partnership with the Kaktovik Inupiat Corporation (KIC), resulting in the formation of Marsh Creek, LLC.

Mohrbacher, Perry and Penrose (2005–2009)

With the consolidation of FEPSI’s operations in Alaska, the Company developed a steady track record of growth and prosperity while further proving itself as a premier oil and gas service provider in the Alaska market. Significant attention was paid during this time to improving the business systems that are necessary for company growth and employee retention including streamlined admistrative practices, best in class benefits, human resources support services and continuing education opportunities. The added growth of Marsh Creek, LLC’s service suite of remote environmental remediation, energy systems, tundra logistics and telecommunications also bolstered the critical mass of the overall organization.

Mohrbacher and Penrose (2009–2010)

In September 2009, Sherron Perry sold his FEPSI stock to the Company. which left Bill Penrose and Jesse Mohrbacher as the two remaining shareholders in the Company.

A second partnership with KIC was formed January 1, 2010 under the name of Jago Contracting and Management, LLC (Jago). Jago was created to expand KIC’s participation in construction management and operations with a particular focus on continuing development activities at Point Thomson which is located within 60 miles of the village of Kaktovik. Upon startup, Jago was immediately a functioning construction management company. As part of the process of forming the new partnership, 42 existing project specific FEPSI personnel and associated business systems were seamlessly transferred to Jago to provide construction and logistical support activities to Point Thomson operations that were previously conducted by FEPSI.

Like Marsh Creek, the addition of Jago’s operations to the organization have provided additional critical mass that will enable the organization to continue on a growth curve and provide exceptional opportunities to the employees.

SolstenXP (2010)