White Deer Energy Acquires Majority Equity Stake in Flogistix, LP
OKLAHOMA CITY (PRWEB) December 15, 2014 -- Flogistix, LP announced today that funds controlled by the energy private equity firm White Deer Energy have made a majority investment in the oil and gas production optimization company through acquiring all of the ownership interest previously held by affiliates of Natural Gas Partners, and NGP Energy Technology Partners.
Flogistix, which was founded in 2011, manufactures wellhead gas compressors designed to meet complex unconventional reservoir compressor and vapor recovery applications. Flogistix’s equipment and services are used to improve production rates, extend the useful life of a well, and increase proven reserves, as well as to reduce emissions and capture valuable vapors that would otherwise be vented or flared. With industry leading compressor control systems and a proprietary Multi-Stream system that enables companies to target and control multiple sources of gas at various pressures, Flogistix provides production optimization services for some of the largest major and independent oil and gas producers in the world.
The company manufactures a large range of gas engine and electric driven compressors and fluid pump systems and maintains a gas compressor rental fleet in excess of 1,700 units.
“We are very excited to be working with White Deer because of their energy industry expertise, and their experience with companies at later stages of development,” said Flogistix President and Chief Executive Officer Mims Talton. “We have attained significant growth and profitability in our first four years and are confident this investment will be great for both the Flogistix management team and White Deer.”
Flogistix, LP is currently focused on significantly increasing its manufacturing capacity to further service their customers’ needs.
“This is a big market with very high demand,” said Joe Bob Edwards, Partner at White Deer Energy. “We look forward not only to Flogistix’s continued growth with its popular FX Series Multi-Stream production optimization and vapor recovery systems, but also the success of the many customers who will benefit financially while becoming completely environmentally compliant.”
About White Deer Energy: White Deer Energy is an energy private equity firm focused on the exploration and production, oilfield service and equipment manufacturing, and midstream sectors of the oil and gas industry. With $2.2 billion of capital commitments across two private equity funds, White Deer Energy is a long-term investor targeting equity investments of $50 to $150 million. With offices in Houston and New York, White Deer Energy has a combination of industry expertise and capital that makes it an attractive partner for rapidly growing energy companies.
About Flogistix: Flogistix, LP is a leading manufacturer and well optimization service provider to the domestic onshore oil and gas industry. The company manufactures a large range of gas engine and electric driven compressors and pump systems and maintains a gas compressor rental fleet in excess of 1,700 units located throughout eight producing states.
Mims Talton, Flogistix, LP, http://www.flogistix.com, 405-536.0000, [email protected]
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