Announced
Completed
Financials
Sources
Tags
Private
Oil Equipment and Services
Completed
Majority
Single Bidder
United States
Merger
Friendly
pressure control
Private Equity
Synopsis
NGP Energy-backed Covenant Testing Technologies, a construction company that provides services such as flowback and well testing, completed the merger with Stuart Pressure Control, which offers a complete pressure control package for unconventional oil and gas development. Financial terms were not disclosed. "By combining our people, assets and systems in accordance with our core values and safety culture, the combined company will deliver superior equipment and service to the well site from frac to production. With our expanded service offerings, our competitiveness in each business line will increase and enable us to be more efficient and cost-effective for our customers,“ Jim Burtner, Covenant President and CEO.
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