Houston, TX (PRWEB) May 15, 2014
Catapult Energy Services Group, LLC (“Catapult”), funded by Natural Gas Partners and NGP Energy Technology Partners (collectively “NGP”), made a growth equity commitment to help establish Covenant Testing Technologies, LLC (“Covenant”). Covenant provides best-in-class flowback and well testing services with a special focus on horizontal and pad drilling for the upstream oil and gas services industry.
Covenant is headquartered in Sugar Land, Texas and is currently supporting customers in the Permian Basin and Niobrara Shale. Covenant was founded by President and Chief Executive Officer John Cavitt. Mr. Cavitt has a successful track record in the flowback and well testing businesses and has quickly established Covenant as a top flight service provider in the oilfield services space. Prior to founding Covenant, Mr. Cavitt held managerial positions at Select Energy Services and Oil States International.
“At Covenant we are finding that our employee and safety-focused approach is helping to generate positive results for our customers,” said Mr. Cavitt. “Our team has done a fantastic job building Covenant’s customer base and we look forward to continuing to deliver quality service.”
In addition to start-up capital, Catapult provided Covenant with back-office consulting in accounting, finance, human resources, IT, legal and risk management services.
“We believe this partnership with Catapult helped to accelerate Covenant through the start-up phase, allowing us to get into business more quickly, cost effectively, and professionally,” said Mr. Cavitt.
Catapult is a partnership of experienced oilfield services executives who have a track record of adding value in the energy sector. Each partner, individually, has a successful background in developing and managing back-office infrastructure designed to enhance the capabilities of oilfield services operations.
“Covenant’s early success has our team eagerly awaiting new management teams to partner with,” says Gregory D. Laake, Managing Partner, Catapult Energy Services Group.
About Covenant Testing Technologies
Founded in 2013, Covenant combines leading technology with some of the most skilled and knowledgeable operators in the business. With operations in the key areas of the Permian Basin and Niobrara Shale, Covenant provides best-in-class flowback and well testing services with a special focus on horizontal and pad drilling for the upstream oil and gas services industry. Covenant is an affiliate of Catapult Energy Services Group. http://www.ctest.com.
About Catapult Energy Services Group
Founded in 2013, Catapult uses an innovative approach to establish and invest $25 million or more in start-up oil field products and services companies. Led by experienced entrepreneurs, Catapult is funded by Natural Gas Partners and NGP Energy Technology Partners. http://www.catapultservices.net.
For questions relating to Catapult, please contact:
Catapult Energy Services Group
Gregory D. Laake
Telephone: (832) 615-3660