Diamond Castle said Monday that it has invested in Professional Directional Enterprises, a Conroe, Texas-based provider of directional and horizontal drilling services to oil and natural gas exploration and production companies. Financial terms weren’t announced. Diamond Castle is a New York PE firm.
Diamond Castle Holdings, LLC is pleased to announce its recent investment in Professional Directional Enterprises, Inc., one of the largest independent providers of directional and horizontal drilling services to oil and natural gas exploration and production companies. From a start-up company in 2001 focused on providing services in Louisiana and Texas, Professional Directional has expanded significantly over the last nine years and now has operations in almost every unconventional oil and natural gas formation in the United States.
“We are strong believers in the long-term growth in production of oil and natural gas from unconventional oil and natural gas fields in the U.S., and the services that Professional Directional provides are a critical part of extracting those reserves,” said Lee Wright, a Senior Managing Director for Diamond Castle. “We are excited to become partners with an experienced management team that has a demonstrated track record of excellent customer service in the industry.”
Karen O’Neal, President of Professional Directional, added “Diamond Castle’s financial resources and energy expertise made them an attractive partner for Professional Directional. We are focused on growing our business in terms of people and equipment in order to continue to provide the high level of service that our customers expect and deserve from us.”
About Diamond Castle Holdings, LLC
Diamond Castle Holdings, LLC is a private equity firm with over $1.85 billion of committed capital under management. Founded in 2004, Diamond Castle specializes in leveraged buyouts, growth capital and equity-like investments in both public and private companies. Diamond Castle targets investments in the following industry sectors: media and communications, energy and power, financial services, healthcare and diversified industries.
Diamond Castle has 22 employees located in New York, New York. For more information please visit www.dchold.com <http://www.dchold.com> .
About Professional Directional Enterprises, Inc.
Professional Directional Enterprises, Inc. is a leading independent provider of directional and horizontal drilling services to oil and natural gas exploration and production companies. The Company, which was established in
2001 and is headquartered in Conroe, Texas, serves a growing roster of blue chip E&P companies focused on onshore, unconventional reserves. Professional Directional has successfully completed wells in virtually every unconventional formation in the U.S., including the Haynesville, Marcellus, Bakken, Woodford, Eagle Ford, Barnett, Niobrara and Cotton Valley plays.
For more information about Professional Directional, please visit http://www.prodirectional.com.