NGP Energy Technology Partners has made a growth capital investment in Signum Instruments Inc. Financial terms weren’t announced. Houston-based Signum provides open-hole formation evaluation tools and services to the oil and gas industry.
HOUSTON–(BUSINESS WIRE)–Signum Instruments, Inc. (“Signum” or the “Company”), a provider of next-generation open-hole formation evaluation tools and services to the oil and gas industry, today announced a growth capital investment from NGP Energy Technology Partners (“NGP ETP”).
”Signum Instruments, Inc. is an innovative oilfield technology company that was formed to deliver the next generation of open-hole formation evaluation tools, with a particular emphasis on harsh and small-diameter environments for unconventional applications,” said its founder and President, Weidong Liu. “The partnership with NGP ETP provides Signum with the financial resources needed to accelerate growth, build out its infrastructure, respond quickly to its customers and continue to develop new tools. Our vision is to be the trusted and preferred solutions provider for quality measurements in tough and unconventional logging in the oil & gas industry.”
”We are very excited about our partnership with Weidong and Signum,” said Michael LeBourgeois, Managing Director of NGP ETP. “By combining the formation evaluation and engineering expertise of the Signum team with the resources and network of the NGP ETP platform, we anticipate significant long-term growth potential and look forward to working side-by-side with Weidong to continue to build the business and bring dynamic solutions to the industry.” “NGP ETP’s investment in Signum is another example of our focus on innovative products, services and technologies that impact the oil & gas industry, which is a key part of investing in energy technology,” said Philip Deutch, Managing Partner of NGP ETP.
About Signum Instruments, Inc.
Based in Houston, TX, Signum Instruments focuses on creating value for its customers by providing best-in-class open-hole formation evaluation tools (electrical and geo-mechanical) and associated services that can help to maximize their EURs, optimize their completions, and increase the NPV of their wells. The Company’s vision is to be the trusted and preferred solutions provider for quality measurements in tough and unconventional logging in the oil and gas industry.
About NGP Energy Technology Partners
NGP Energy Technology Partners (“NGP ETP”) is a private equity firm that invests in companies that provide products and services to the oil and gas, power, environmental, energy efficiency and alternative energy sectors. Founded in 2005, NGP ETP manages approximately $500 million in committed capital and is led by professionals that have extensive experience investing across the energy industry. NGP ETP partners with experienced management teams executing on compelling strategic plans and works with them to drive significant value creation. NGP ETP is headquartered in Washington, DC and has an office in New Orleans, LA. NGP ETP is affiliated with NGP Energy Capital Management (“NGP ECM”). Founded in 1988, NGP ECM is a premier investment franchise in the natural resources industry with $16.5 billion in cumulative capital under management since inception. NGP ECM’s investment platform includes Natural Gas Partners, NGP Global Agribusiness Partners, and NGP Energy Technology Partners. www.ngpetp.com