RigNet named as one of America’s fastest-growing private companies
HOUSTON, TX September 14, 2006:
RigNet, Inc., a leading global provider of managed communication services for the upstream oil and gas industry, today announced it was named as one of America’s fastest-growing private companies in the prestigious Inc. 500, Inc. Magazine’s 25th annual list of the 500 fastest-growing companies in the country.
“We are honored to be included among this elite group of exceptional companies,” said Omar Kulbrandstad, chief executive officer of RigNet, Inc. “Since RigNet’s inception, we’ve grown our business at a rapid pace globally, by innovating new ways to provide superior managed communication solutions to the oil and gas industry that create tremendous value to our customers, and help them in their goal of finding and extracting oil and gas faster and at less cost. I am immensely proud of our strong global team who deliver consistent and exceptional service to our customers worldwide.”
The 2006 Inc. 500 list measures revenue growth from 2002 through 2005. To qualify, companies had to be based in the United States, privately held independent (not subsidiaries or divisions of other companies) as of December 31, 2005, and have at least $600,000 in net sales in the base year. RigNet ranked 274 nationally on the Inc. 500 list with a three-year revenue growth of 490.3 percent.
“If you want to find out which companies are going to change the world, look at the Inc. 500,” said Inc. Editor, Jane Berentson. “These are the most innovative, dynamic, fast-growth companies in the nation, the ones coming up with solutions to some of our most intractable ills, creating systems that let us conduct business faster and easier, and manufacturing products we soon discover we can’t live without. The Inc. 500 list is Inc. Magazine’s tribute to American business ingenuity and ambition.”
The 2006 Inc. 500 list, as revealed in the September issue of Inc. Magazine, reported the most robust bunch of companies the magazine has ever compiled, with aggregate revenue of $19.7 billion, up from $16.5 billion last year and $12.9 billion in 2000. Most important, the 2006 Inc. 500 companies were the engines of U.S. job growth, having created more than 90,000 jobs since those companies were founded.
Addressing the communications challenges faced by oil and gas companies today in remote locations, RigNet uses the leading satellite and networking technologies to provide a high-quality solution for broadband data, voice and video communications, as well as real-time data management. RigNet installs, manages and supports communication systems without requiring its customers to invest in and manage expensive telecommunications equipment, allowing them to redirect valuable resources to their core businesses. RigNet real-time data management acquires, distributes and manages real-time and historical well site data.