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Prospect Capital Provides Equity For CP Well Testing Acquisition

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October 18, 2012

Prospect Capital Corp. (NASDAQ: PSEC ) announced that Prospect has provided a $21.5 million senior secured loan to support the acquisition of CP Well Testing LLC, a provider of flowback services to oil and gas companies operating in western Oklahoma and the Texas Panhandle, by investment funds managed by Hastings Equity Partners.

Based in Elk City, Okla., CP's services include, providing equipment and personnel to remove gas, fluids, sand, and proppants from the wellbore after fracing and before commercial production begins.

Prospect has closed more than $1.6 billion of originations ...

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