Catapult Energy Services Group, LLC (“Catapult”), funded by Natural Gas Partners and NGP Energy Technology Partners (collectively “NGP”), made a growth equity commitment to help establish Covenant Testing Technologies, LLC (“Covenant”). Covenant provides best-in-class flowback and well testing services with a special focus on horizontal and pad drilling for the upstream oil and gas services industry.
Covenant is headquartered in Sugar Land, Texas and is currently supporting customers in the Permian Basin and Niobrara Shale.
In addition to start-up capital, Catapult provided Covenant with back-office consulting in accounting, finance, human resources, IT, legal and risk management services.
Catapult is a partnership of experienced oilfield services executives who have a track record of adding value in the energy sector. Each partner, individually, has a successful background in developing and managing back-office infrastructure designed to enhance the capabilities of oilfield services operations.
“Covenant’s early success has our team eagerly awaiting new management teams to partner with,” says Gregory D. Laake, Managing Partner, Catapult Energy Services Group.
About Covenant Testing Technologies
Founded in 2013, Covenant Testing Technologies, LLC is a leading Well Flow Management company in North America with one of the largest fleets of specialized high volume well testing and flowback fleets globally. Covenant is an Affiliate of Catapult Energy Services Group, LLC, an oilfield services portfolio company funded by NGP and NGP Energy Technology Partners.
About Catapult Energy Services Group
Founded in 2013, Catapult uses an innovative approach to establish and invest $25 million or more in start-up oil field products and services companies. Led by experienced entrepreneurs, Catapult is funded by Natural Gas Partners and NGP Energy Technology Partners. http://www.catapultservices.net.