Nov 20, 2006
RigNet Again Ranked as One of Houston's Fastest-Growing Tech Companies
HOUSTON, TX - November 20, 2006 - RigNet, Inc., a leading global provider of managed communication services for the upstream oil and gas industry, was again ranked as one of the fastest-growing technology companies by the Houston Business Journal's 2006 Fast Tech 50. The Fast Tech 50 is a ranking of the 50 fastest-growing technology companies in the Houston area.
"We certainly feel privileged to be ranked again as one of Houston's fastest-growing technology companies," said Omar Kulbrandstad, chief executive officer of RigNet, Inc. "Our continued rapid growth speaks to the tremendous success our customers have experienced using RigNet's managed communications solutions worldwide in achieving reliable, robust and cost effective communications and real-time data transmissions to multiple points around the globe. RigNet's solutions allow our customers to make better informed decisions, faster. This translates to achieving a significant impact on reduced drilling time and costs."
To qualify for the Fast Tech 50, companies must be headquartered in the eight county SMSA Houston area, have a minimum of 51 percent of net revenue be involved in the original manufacture, design or development of technology products or services and have a minimum net revenue of $200,000. Rankings were determined on revenue growth percentage from fiscal 2004 and 2005. Of the hundreds of companies that submitted their qualifications for the Fast Tech 50, 341 qualified for the nomination. With a revenue growth of 96.03%, RigNet ranked 18th on the 2006 Fast Tech 50 list.
Addressing the communications challenges faced by oil and gas companies today in remote locations, RigNet uses 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.
About RigNet Inc.
RigNet, Inc., is a leading global provider of managed communication services exclusively to the upstream oil and gas industry. The Company holds the prestigious Cisco Powered Network designation, meeting the most stringent standards for network reliability and performance, and was recently named one of America's fastest-growing private companies as ranked in Inc. Magazine's distinguished Inc. 500. RigNet has worldwide installations throughout 21 countries and 6 continents, spanning the global offshore drilling and production industry. Based in Houston, Texas, RigNet has offices in Louisiana, Brazil, Malaysia, Nigeria, Norway, Qatar, Saudi Arabia, Singapore, UAE and the UK. For more information, please visit http://www.rig.net/.
