What Lasso Drilling Llc does

Lasso Drilling LLC is a US onshore drilling contractor founded in June 2018 and headquartered in Midland, Texas, focused exclusively on the Permian Basin. The company contracts its rigs and crews to oil and gas exploration and production operators for directional and horizontal well construction, generating revenue through negotiated drilling service contracts on what the input characterizes as project-by-project terms consistent with day-rate pricing models standard in US land oilfield services.

Lasso operates a fleet of four Super Spec AC (Alternating Current) rigs equipped with Variable Frequency Drive (VFD) technology: Rig #101 and Rig #102 are 21,000-foot telescopic triple rigs, while Rig #103 (26,500-foot) and Rig #104 (26,000-foot, with 5.5-inch drill pipe) extend the fleet into deeper, more demanding well profiles. Each rig delivers 4,000 horsepower, a 700-kip hook load, 1,850 hp draw works, 1,600 hp pumps, top drives rated at 46,000 ft-lbs of torque, 1,000 bbl mud systems, automated pipe handling, and full walking systems. The fleet's distinguishing design feature is a crane-less, compact architecture that the company says reduces trucking loads per move and enables rig relocations in hours rather than days, materially lowering non-productive time for operators.

The company is management- and private-equity-owned, with Edge Natural Resources LLC (a Dallas-based PE firm with over $1.1 billion in fund commitments) as its financial partner. Sales are conducted through direct enterprise engagement led by VP Marketing Ron Smith and Sales Manager Joe Alaniz, targeting E&P operators in the Permian Basin. In addition to its Midland headquarters, Lasso maintains a corporate office in The Woodlands (Houston area) for business development and corporate functions. The leadership team draws from CWC Ironhand Drilling, Horizon Drilling, Stoneham Drilling, Canelson Drilling, Calmena Drilling, NOV Wellbore Technologies, and Big Sky Drilling, lending operational credibility to a sub-decade-old contractor.

Name

Lasso Drilling Llc

Legal name

Lasso Drilling LLC

Website

https://lassodrilling.com

Company type

Private

Founded year

2018

Operating status

Operating

Short description

Lasso Drilling LLC is a privately held, Permian Basin-focused US drilling contractor operating a fleet of four Super Spec AC VFD telescopic triple rigs under contract to oil and gas E&P operators, backed by Edge Natural Resources.

Ownership category

akta.pro rank

Headquarters

HQ city

Midland

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Drilling Contract Services: Lasso Drilling generates revenue through drilling service contracts with oil and gas operators in the Permian Basin. As a drilling contractor, the company provides rigs, equipment, and crews for well drilling operations on a contract basis, likely using day-rate pricing models typical in the oilfield services industry.

Go-to-market motion1 record

Distribution channels1 record

Core offering

Lasso Drilling LLC is an American drilling contractor that operates a fleet of modern Super Spec AC VFD drilling rigs to provide onshore drilling services to oil and gas exploration and production operators in the Permian Basin. The company currently operates four telescopic triple rigs with depth capacities ranging from 21,000FT to 26,500FT, delivering crews, equipment, and rig move services under contract.

Product overview

Lasso Drilling LLC is an American drilling contractor offering a fleet of modern Super Spec AC drilling rigs for the Permian Basin and US shale market. The company operates four named telescopic triple drilling rigs (Rig #101, #102, #103, and #104) with depth capacities ranging from 21,000FT to 26,500FT. These compact, crane-less, super spec VFD rigs feature 4000 HP, 700kip hook load, 1850 HP drawworks, 1600 HP pumps, top drives capable of 46,000 ft/lbs of torque, 1000 bbl mud systems, pipe handling features, and full walking systems. The company is building a fleet of 21,000' super spec tele triples designed for rapid rig moves (hours not days) with significant move cost savings.

Differentiator

Problem solved

Functional benefit

Products and services

• Lasso Drilling Rig #101 21,000FT telescopic triple drilling rig with 5 inch drill pipe, part of the company's fleet of super spec AC rigs designed for efficient moves and fast-paced US shale market operations.
• Lasso Drilling Rig #102 21,000FT telescopic triple drilling rig, part of the company's fleet of modern super spec VFD rigs.
• Lasso Drilling Rig #103 26,500FT triple drilling rig with 5 inch drill pipe, offering extended depth capability for deeper well applications.
• Lasso Drilling Rig #104 26,000FT triple drilling rig with 5 1/2 inch drill pipe, providing enhanced depth capacity for more demanding well profiles.
• Drilling Contract Services Full-service contract drilling for oil and gas operators including rig, crew, equipment, and rig move services on a project basis in the Permian Basin.

Quantifiable outcome

• Rig moves completed in hours rather than days, reducing move costs significantly
• +3 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Scale indicators4 records

Recent moves7 records

Expansion highlights4 records

Market position

Weaknesses5 records

Competitive moat4 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lasso Drilling Llc