Varel employees fielded technical questions and assisted those needing more product-specific information. From left to right: Crystal Montanez, Doug Weingardt, Jim Dahlem, Fernando Menda, Cary Maurstad and Mike Reese. Photo courtesy of Petroleum Magazine.

Customers, media and local Varel employees were on hand at the September 2008 Society of Petroleum Engineers Annual Technical Conference and Exhibition (ATCE) show in Denver for the product launch of the High Energy series.

Varel's Cary Maurstad and William Burton led an informal discussion about High Energy roller cone drill bits to launch the line, entertaining questions about the evolution of the series and product performance. Attendees were able to see actual product, receive performance information and take home the latest High Energy series brochures.

"We had a really good turn out, and lots of interest in Varel products. They came for the announcement, but we also had folks that were interested in other Varel products. This gave us a chance to engage them in discussion," said Cary Maurstad.

In addition to the booth launch, a press release regarding the new series was released on Sept. 22. The release has been picked up by multiple media outlets and was featured in the Hart's E&P Show Daily. This year's convention drew more than 9,800 industry professionals from around the world, and was the largest exhibition in ATCE history.

Click here to read the High Energy press release

Inc. magazine announced that Varel International is number 2,445 on its annual ranking of the 5,000 fastest-growing private companies in the country and 81st on its ranking of the 100 fastest-growing private companies in the Dallas/Fort Worth/Arlington area.

"This recognition is truly something that makes us proud," said Varel CEO and President Jim Nixon. "Our company did this together, all of us. We have experienced tremendous growth in the past few years and it is an honor to be part of the Inc. 5000 list."

Varel is listed in the manufacturing category and was selected based on its revenue growth from 2004 to 2007. In the three-year period, the company grew from $84.1 million in revenue to $210.9 million; a revenue growth of more than 150 percent.

"The Inc. 5000 gives an unrivaled portrait of young, underreported companies across all industries doing fascinating things with cutting-edge business models," said Inc. 5000 Project Manager Jim Melloan, "as well as older companies that are still showing impressive growth."

Nixon added, "We are fortunate to be in our position. Our investors recognized the opportunities Varel has had to grow and they supported our plans. We also have an outstanding team of employees who work hard each day to grow our company. I applaud their efforts."

About the Inc. 5000 List
The 5000 companies that made the list reported aggregate revenue of $185 billion and median three-year growth of 147 percent. Most importantly, the 2008 Inc. 5000 companies were engines of job growth, having created more than 826,033 jobs since those companies were founded. Complete results of the Inc. 5000, including company profiles and a list of the fastest-growing companies, sortable by industry and region, can be found at www.inc5000.com.

Methodology
The 2008 Inc. 5000 list measures revenue growth from 2004 through 2007. To qualify, companies must be U.S.-based and privately held, for profit, independent (not subsidiaries or divisions of other companies) as of December 31, 2007, and have at least $200,000 in revenue in 2004 and $2 million in 2007.

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