HOUSTON--(BUSINESS WIRE)--Kinetics Energy Services, LLC ("Kinetics" or the "Company") announced
today the closing of its private equity financing with Natural Gas
Partners, through its affiliate, NGP Natural Resources XI, L.P. ("NGP").
Kinetics is focused on acquiring, integrating and growing North American
energy services equipment companies providing well completions and
production enhancement.
Chaden Lassoued, Chief Executive Officer of Kinetics, previously spent
two decades in key leadership roles with Schlumberger Limited,
undertaking assignments in the Middle East, North America, Latin
America, Europe, Africa and Asia. Most recently, Mr. Lassoued served as
President of Well Intervention where he led more than 9,000 employees
and had responsibility for approximately $3 billion in global revenue.
He also served as Vice President of Corporate Strategy for Schlumberger
Limited, since March 2012. Earlier in his career, Mr. Lassoued served as
the Vice President of Middle East Asia for Drilling Measurement and
Vice President of Latin America for Testing Services and was responsible
for the strategic direction of business operations for Schlumberger
Limited. He began his career as a field engineer. Mr. Lassoued
commented, "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."
Kinetics Executive Vice President Chief Financial Officer, Alexander
Somers, was previously an investment banker with the leading energy
services and equipment investment banking firm, Simmons Company, since
2005. In his career with Simmons Company, Mr. Somers completed more
than 30 merger, acquisition and capital market transactions with an
aggregate transaction value of more than $15 billion. Mr. Somers holds a
BS in Finance and Accounting from Tulane University and an MBA from
Harvard Business School. Mr. Somers commented, "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."
Kinetics is headquartered in Houston, Texas at 10777 Westheimer Road,
Suite 1100. For additional information, please visit www.kineticsenergy.com.
About Natural Gas Partners
Founded in 1988, Natural Gas Partners is a family of private equity
investment funds with cumulative committed capital of over $14 billion
since inception, organized to make investments in the natural resources
sector. Natural Gas Partners is part of the investment platform of NGP
Energy Capital Management a premier investment franchise in the natural
resources industry with $16.5 billion in cumulative committed capital
under management since inception. www.naturalgaspartners.com
http://www.businesswire.com/news/home/20150331005293/en/Kinetics-Energy-Services-LLC-Announces-Equity-Financing
today the closing of its private equity financing with Natural Gas
Partners, through its affiliate, NGP Natural Resources XI, L.P. ("NGP").
Kinetics is focused on acquiring, integrating and growing North American
energy services equipment companies providing well completions and
production enhancement.
Chaden Lassoued, Chief Executive Officer of Kinetics, previously spent
two decades in key leadership roles with Schlumberger Limited,
undertaking assignments in the Middle East, North America, Latin
America, Europe, Africa and Asia. Most recently, Mr. Lassoued served as
President of Well Intervention where he led more than 9,000 employees
and had responsibility for approximately $3 billion in global revenue.
He also served as Vice President of Corporate Strategy for Schlumberger
Limited, since March 2012. Earlier in his career, Mr. Lassoued served as
the Vice President of Middle East Asia for Drilling Measurement and
Vice President of Latin America for Testing Services and was responsible
for the strategic direction of business operations for Schlumberger
Limited. He began his career as a field engineer. Mr. Lassoued
commented, "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."
Kinetics Executive Vice President Chief Financial Officer, Alexander
Somers, was previously an investment banker with the leading energy
services and equipment investment banking firm, Simmons Company, since
2005. In his career with Simmons Company, Mr. Somers completed more
than 30 merger, acquisition and capital market transactions with an
aggregate transaction value of more than $15 billion. Mr. Somers holds a
BS in Finance and Accounting from Tulane University and an MBA from
Harvard Business School. Mr. Somers commented, "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."
Kinetics is headquartered in Houston, Texas at 10777 Westheimer Road,
Suite 1100. For additional information, please visit www.kineticsenergy.com.
About Natural Gas Partners
Founded in 1988, Natural Gas Partners is a family of private equity
investment funds with cumulative committed capital of over $14 billion
since inception, organized to make investments in the natural resources
sector. Natural Gas Partners is part of the investment platform of NGP
Energy Capital Management a premier investment franchise in the natural
resources industry with $16.5 billion in cumulative committed capital
under management since inception. www.naturalgaspartners.com
http://www.businesswire.com/news/home/20150331005293/en/Kinetics-Energy-Services-LLC-Announces-Equity-Financing