Pelican Energy Partners has made a “significant” investment in Scott, Louisiana-based Gordon Technologies, a provider of measurement-while-drilling technology for the oil and gas industry. No financial terms were disclosed.
HOUSTON, Oct. 17, 2017 /PRNewswire/ — Pelican Energy Partners (“Pelican”) is pleased to announce a significant investment in Gordon Technologies LLC (“Gordon”), an independent provider of Measurement-While-Drilling (“MWD”) technology to the oil and gas industry.
Headquartered in Scott, LA, with a service facility in Midland, TX, Gordon was founded in 2014 by Terry Frith, a veteran of the MWD sector with more than 30 years of experience at the forefront of MWD technology. Terry holds several key patents in the sector and has developed or helped develop eight different MWD systems throughout his career.
Gordon’s product offering, including its Heat Miser™ and Shock Miser™ tools, were designed to specifically address the most pressing needs in today’s challenging drilling environments, namely MWD failures due to high shock and vibration, as well as high temperature environments. Gordon’s products create a faster, more robust and more reliable MWD system and are achieving best in class performance, as evidenced by significant growth in Texas, Oklahoma, North Dakota and Louisiana. Pelican’s investment will provide needed growth capital to enable the company to keep up with sharply increasing customer demand.
Mr. Frith stated, “I am pleased to partner with Pelican, a group that not only provided the capital we need to support our tremendous growth, but consists of oilfield experts who understand this industry and have experience building successful companies.”
About Pelican Energy Partners
Founded in 2011, Pelican Energy Partners is a highly specialized private equity firm based in Houston. The team is led by a group of experienced energy service professionals focused on making investments in energy services and manufacturing companies. Pelican makes strategic investments in small to middle-market, high growth potential energy service and equipment companies with sustained earnings outlooks. The firm has raised $330 million of committed capital and is investing out of its second fund.