Managed Pressure Operations International Ltd., an oilfield services company, has received a growth capital investment from NGP Energy Technology Partners.
With locations in Singapore, Texas and Indonesia, Managed Pressure Operations provides technologically advanced continuous circulation and managed pressure drilling (MPS) systems, including equipment and operational personnel, to the global onshore and offshore drilling markets.
As also said by Christian Leuchtenberg, CEO of MPO, the proceeds from the investment will enable the company to develop additional specialized drilling solutions and accelerate its expansion within the global MPD systems market.
“The addition of NGP Energy Technology Partners will bring one of the most experienced and well-respected energy technology focused funds on board. We are excited about partnering with the NGP ETP team”, Leuchtenberg added.
In addition to drilling capabilities, Managed Pressure Operations can also provide front end engineering design as well as project and Quality, Health, Safety & Environment (QHSE) management for drilling projects ranging from basic land rig operations to deepwater and high-pressure, high-temperature (HPHT) operations on floating drilling installations.
Established in 2005, NGP Energy Technology Partners is a private equity firm investing equity capital for growth and buyout transactions for companies that provide products and services to the oil and gas, power, energy efficiency, and alternative energy sectors.
Houston-based investment bank Growth Capital Partners and law firm BoyarMiller advised Managed Pressure Operations in this transaction.