[Context: On October 8, Thigpen Energy announced an investment from Intervale. Further details and related links are below.]
Thigpen Energy partners with Intervale Capital and Recapture Solutions
Houston, TX (October 8, 2014) – Thigpen Energy (“Thigpen”) is pleased to announce it has partnered with Intervale Capital (“Intervale”). Intervale will provide growth capital to support Thigpen’s fleet and geographic expansion. Thigpen is a leading provider of high horsepower natural gas fueling solutions in North America. Intervale is a private equity firm which invests exclusively in oilfield manufacturing and service companies.
Thigpen will work alongside Recapture Solutions (“Recapture”), another portfolio company of Intervale, to monetize and utilize stranded flare gas. Recapture provides flare reduction and natural gas power solutions to oil and gas production companies in the Permian, Williston and DJ basins. The combination of Recapture and Thigpen’s service and product offerings will enable customers to economically capture flare gas for fueling applications.
“Demand for our services is rapidly increasing and our partnership with Intervale will allow Thigpen to grow in response to this demand. Thigpen’s goal is to provide comprehensive natural gas fueling solutions that integrate seamlessly with our customers’ operations. We are excited to partner with Intervale, which has a track record of helping service businesses expand quickly,” said President and Founder Sam Thigpen. “Recapture and Thigpen are focused on utilizing natural gas in innovative ways to save our customers money. There will be many opportunities for Recapture and Thigpen to work together to provide unique solutions to our customers”.
Charles Cherington, Managing Partner at Intervale added, “We look forward to partnering with Sam and his talented management team. Thigpen is a recognized leader in natural gas fueling solutions and offers excellent service to its customers. Thigpen faces overwhelming customer demand and has been challenged by its customers to expand rapidly. Recapture and Thigpen will be able to provide a complete solution to monetize and utilize stranded flare gas. We look forward to helping both companies meet their growth objectives.”
About Thigpen Energy:
Thigpen is a leading provider of high horsepower natural gas fueling solutions in North America. The company delivers onsite fueling solutions for drilling, pressure pumping and other industrial applications with LNG, CNG and field gas. With the ability to provide LNG supply, logistics and diesel engine conversions, Thigpen offers among the most comprehensive service suite in the natural gas fueling market.
About Recapture Solutions:
Recapture is a provider of flare reduction and natural gas power solutions to oil and gas production companies. Its primary areas of operation are the Permian, Williston and DJ basins. Recapture owns and operates a fleet of natural gas powered generators as well as a fleet of gas capture processing units which are used to capture valuable natural gas liquids contained in flare gas.
About Intervale Capital:
Intervale Capital is an energy-focused private equity firm with offices in Boston and Houston. Intervale invests exclusively in middle-market oilfield services and manufacturing companies and related technologies. The firm has raised $1.2 billion of committed capital since its inception in 2006 and is currently investing from its third fund.
Intervale portfolio companies include Proserv Group (offshore and subsea equipment and services), TEAM Oil Tools (completions equipment and services), Aegis Chemical Solutions (production chemicals and water treatment), Allied Oil & Gas Services (cementing and acidizing services), Antelope Oil Tool (casing and cementing products), Certus Energy Solutions (diversified oilfield rental equipment), Energes Oilfield Solutions (well flow control, water transfer and safety services), EPIC Lift Systems (artificial lift), Tier 1 Energy Solutions (Canadian wireline and completions) and Recapture Solutions (flare remediation and power generation).