Kinetics Energy Services LLC closed its private-equity financing with NGP Natural Resources XI LP, a Natural Gas Partners affiliate, the company said March 31.
The amount of the financing was not disclosed. It will support acquisition and integration of North American well services companies.
Chaden Lassoued, CEO, said, "we are excited about opportunities in the current market and look forward to partnering with businesses in the completion and production enhancement sector. NGP is a patient, supportive and value-added partner and I look forward to building our platform. We have very strong growth plans and ambitious goals."
“The company has a robust balance sheet and substantial capital available for mergers and acquisitions. We are actively pursuing select opportunities in the well completions and production enhancement segment to deliver an integrated product and service offering for North America,” said Alexander Somers, executive vice president and CFO.
Kinetics Energy Services LLC is based in Houston.
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