CEO of Ace Fluid Solutions
When Abraham Lincoln came to power, the nation was in peril, and he had the intelligence, and the self-confidence, to know that he needed the best people by his side, people who were leaders in their own right and who were very aware of their strengths. On the flip side, Jack Welch believed that leaders have the courage to make unpopular decisions. “You are a leader to lead, not to win a popularity contest. To retain trust, you must listen and explain your decisions clearly – but you must keep moving forward.” -Jack Welch
Stacy Racca, CEO of Ace Fluid Solutions (AFS), has derived inspiration from both of these great leaders. The ability to learn from each of these great leaders’ mistakes has enabled him to have the confidence to be bold in his leadership approach. Stacy understands that making mistakes is how one grows. He is not afraid to lean into taking calculated risks knowing that not every initiative will be successful but learning from those mistakes and being transparent about those mistakes is where actual growth takes shape. More importantly, Stacy has learned to master his ego. He uses his ego as a tool when needed and does not allow it to dominate everyday leadership.
This skill enables him to surround himself with brilliant and motivated team members.
Stacy’s most valuable strength is his ability to build high-quality leadership teams and develop achievable multi-year business strategies that are achievable. His unique ability to consume varying market indices and coalesce as a robust organizational strategy enables a business to grow. Stacy’s emotional intelligence leadership style allows him to align talent and execute strategies, taking the organization to new heights.
AFS is the leading premier stimulation chemicals and water services provider to the Permian and Delaware Basin’s oilfield industry. AFS offers industry leading ESG strategies that focus on technologies to reduce and reuse natural freshwater sources. The highly experienced and diverse team ultimately bridges the gap between the frac water source and the applied chemicals into one seamless offering. Their approach provides the best adaptive chemistry at the best price point to ensure operators can afford to continue operations, delivering unparalleled results. Being a single service provider from source water to stimulation chemicals, AFS provides better economics, better accountability, and better wells.
The company’s new partnership with OFS Energy Fund brings together the unique strengths of highly technical companies, allowing them to offer their customers the best fluid products, services, and laboratory capabilities. The partnership with OFS Energy Fund enables the ability to gain mass in the market. “By gaining mass, our team can provide services and products to larger companies that may have seen us as a risk due to our size in the past. This new mass allows for Ace Fluid Solutions to gain market share, allowing for our growth. We are no longer considered ‘too small to work with.”
AFS recently finalized its executive organizational structure after merging the two market-dominate companies Terra Oilfield Services and Ace Completions, LLC. After completing the merger, Stacy Racca, CEO of AFS, has finalized the new executive leadership team effective 5/1/2021. “Leadership is the backbone and starting point for everything we do. Every employee of AFS deserves great leadership. I am very proud of AFS entirely and the dedication that all members of the organization have shown during our integration phase,” says Stacy. “With the extreme momentum we have experienced driven by the merger of these two complex companies, AFS has developed a new strategy combining the strengths of both legacy companies that support best in class products and services. With this strategy comes an organizational realignment to ensure that strong leadership is present at all levels of AFS. I am proud to announce the new Executive Leadership team for AFS and have no doubt they will lead AFS to new levels of success.”
AFS is driven to provide better economics, better accountability, and better-performing wells for their customers. The customers demand quality products and services at the low possible price. This expectation drives AFS to focus on three areas that enable our growth: People, Process, and Technology. This approach guides the company to be innovative with products and efficient with services. “Our customers vote with their wallets, and we must add value to their companies for us to stay relevant. We constantly challenge ourselves to be productive with movements and labor,” explains Stacy. “AFS has full-time technical resources in our labs developing “better mousetraps” 365 days a year. We respond to our customers’ needs and often solve problems our customers usually don’t even know they have.” The company’s ability to deploy customer cost tracking technology allows them to perform a postmortem of every job and look for opportunities to provide more future value to their clients. For example, AFS was the first company in the Permian Basin to provide full ISO at the well site, which increased well site efficiencies and more accurate customer billings.
Stacy has dedicated an entire organizational division that works year-round in their labs and with the customers to develop proprietary new products. “Our people and our leadership team are our most significant advantage. A few differentiators are our ability to source the highest quality raw materials and equipment to ensure a superior finished product and our dedication to being in the fight with our clients,” says Stacy. “We never give up on our customers, and we take on their challenges as our own. Lastly, are our team’s determination to “do what we say we are going to do” (Our Say–Do Ratio) is a non-negotiable throughout our organization.”
AFS’s most significant achievement is that its team has created a legacy company that serves to put its people first. Their leadership team takes care of the employees, and the employees take care of their customers and the suppliers. Through this approach, the customers and suppliers are a priority for their organization. “The company three years ago was in the top 20 services companies in the Permian and Delaware basins. Due to our leadership approach, we are now in the top three and have consistently held a significant market share compared to our competitors,” adds Stacy.