Newly granted patent protects proprietary method for converting conventional service rigs into advanced electrically powered service rigs

DALLAS (October 28, 2026) -- Axis Energy Services, LLC ("Axis" or the "Company"), a leading provider of well servicing and completion support services, today announced that the United States Patent and Trademark Office ("USPTO") has issued U.S. Patent No. 12,760,622 B2, titled "Method of Retrofitting a Service Rig." The patent was issued on October 13, 2026, and protects Axis's innovative approach to converting conventional mechanically powered service rigs into advanced electrically powered service rigs.

The newly granted patent covers a method of transforming traditional service rigs by replacing mechanically driven systems with electrically powered equipment and advanced control technologies. The patented process includes integrating electric drawworks, programmable controls, hydraulic power units, electronic safety systems, and other modernized operating systems into existing rig platforms while preserving key structural components of the original service rig.

The patented technology was developed by Axis inventors Eric Neu, Joe Ray Hall, and Ryan Earl Phillips. The patent is assigned to Axis Energy Services, LLC.

"This patent represents a significant milestone for Axis and validates years of innovation, engineering development, and operational experience from our team," said Ryan Phillips, Chief Executive Officer of Axis. "Our EPIC platform was developed to modernize service rig operations through advanced electrification, enhanced controls, and improved operational performance. Receiving this patent strengthens our position as an innovation leader in the well servicing industry and reinforces our commitment to delivering differentiated solutions for our customers."

The patented retrofit methodology addresses the growing industry demand for modernization of existing rig fleets by enabling legacy service rigs to incorporate advanced electrical systems, intelligent controls, enhanced safety features, and modern operating capabilities. The technology is designed to provide operators with a path to upgrade existing assets while leveraging proven service rig platforms.

The issuance of U.S. Patent No. 12,760,622 B2 marks an important step in Axis's broader technology and intellectual property strategy. The Company has additional patent applications pending related to its service rig modernization and electrification initiatives, and continues to develop and evaluate additional technologies and intellectual property opportunities aimed at advancing well servicing operations and equipment performance.

About Axis Energy Services

Axis Energy Services is a leading provider of well servicing, intervention, completion support, and related energy services across key producing basins in the United States. Through a focus on operational excellence, safety, technology, and innovation, Axis delivers solutions designed to help customers maximize efficiency and performance throughout the lifecycle of their assets.

This press release contains statements regarding Axis's technology initiatives, intellectual property strategy, and future development activities. These statements reflect current expectations and are subject to change. Actual results, developments, and patent outcomes may differ from those described herein.

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