Dynacorp Energy Services said May 5 it received an growth equity investment from Intervale Capital. The value wasn't disclosed.
Dynacorp, based in Calgary, Alberta, provides innovative sand management solutions, well testing and production processing equipment to operators and service providers in the oil and gas industry.
Justin Morin, Dynacorp's co-founder and CEO, sought the investment as part of a broad recapitalization of the company, the release said.
"Operators face growing sand management challenges, which are made more acute in today's tough industry environment," Morin said.
Dynacorp will work with Intervale to accelerate the company's growth strategy across North America, he added. The company has a manufacturing facility in Grand Prairie, Alberta, and has deployed equipment across North America.
Intervale, an energy-focused firm with offices in Houston and Boston, has raised $1.3 billion of committed capital since its inception in 2006 and is currently investing from its third fund.
Recommended Reading
Woodside’s GoM Trion Project Wins Social Impact Assessment Approval
2024-02-14 - Woodside Energy’s Trion is expected to start production in the Mexican sector of the Gulf of Mexico in 2028, and Woodside said the impact assessment will help the operator engage with local communities during the construction phase.
The OGInterview: How do Woodside's Growth Projects Fit into its Portfolio?
2024-04-01 - Woodside Energy CEO Meg O'Neill discusses the company's current growth projects across the globe and the impact they will have on the company's future with Hart Energy's Pietro Pitts.
Pemex GoM Oil Platform Blaze Leaves One Dead, 13 Injured
2024-04-08 - A Coter contract worker died from a fire that broke out at Pemex’s Akal-B platform this weekend that also left several others in serious condition, the company said.
Rystad: More Deepwater Wells to be Drilled in 2024
2024-02-29 - Upstream majors dive into deeper and frontier waters while exploration budgets for 2024 remain flat.
After 4Q Struggles, Transocean’s Upcycle Prediction Looks to Pay Off
2024-02-21 - As Transocean executives predicted during third-quarter earnings, the company is in the middle of an upcycle, with day rates and revenues reaching new heights.