Global Energy Capital and White Deer Energy announce the merger of Flowco Production Solutions, Estis Compression and Flogistix
HOUSTON, June 20, 2024 /PRNewswire/ -- Global Energy Capital ("GEC") and White Deer Energy ("White Deer") are pleased to announce the formation of Flowco, Inc. ("Flowco"), creating the shale industry's leading provider of production optimization and artificial lift solutions.
Headquartered in Houston, Texas, Flowco has approximately 1,300 employees located in every major productive region of the domestic oil and gas industry, and a growing international presence. Flowco provides patent-protected products and services that are vital throughout the 30-year lives of producing wells, including high pressure gas lift, traditional gas lift, plunger lift, vapor recovery and a variety of digital technologies.
"Flowco combines the strengths of three market leaders in the production optimization industry – Flowco, Estis, and Flogistix have each developed technologies that provide the world's leading energy producers with mission critical products required to optimize today's oil and gas fields," said GEC's Managing Partner, Jonathan Fairbanks. "Our partnership with White Deer paves the way for Flowco's continued growth and innovation in the sector."
"The merger forming Flowco represents a strategic alignment with GEC to form an industry leader in the production optimization and artificial lift solutions sector," said White Deer co-founder, Ben Guill. "By uniting our three companies, each expert in their field and in complementary lines of business, we can offer comprehensive solutions for clients throughout the entire lifecycle of an oil and gas well. We look forward to working with GEC and our employee partners on the next phase of Flowco's development."
About GEC
GEC invests in innovative energy technology and software companies driving transformation to meet the rising demand for cleaner energy. Since its founding in 2008, GEC has completed 21 platform investments and add-ons, and created over $1 billion of equity value for its investors. For more information, please visit www.geclp.com
About White Deer
White Deer is a private equity firm that invests in products and services businesses in the energy, industrials, and infrastructure end markets. The firm relies on a thematic, research-based investment approach and deep industry knowledge to create sustained value for its companies, investment partners, and employees. The firm, which is based in Houston and New York, has raised nearly $3.0 billion of committed capital since its founding in 2008.