Balcones Energy Holdings LLC, which is backed by Post Oak Energy Capital, has sold its stake in Precision Compression. No financial terms were disclosed. Based in Weatherford, Texas, Precision is a provider of gas compressors.
HOUSTON–(BUSINESS WIRE)–Balcones Energy Holdings LLC, an affiliate of Post Oak Energy Capital, LP (“Post Oak”), in partnership with certain individual investors, today announced that it has sold its equity interests in Precision Compression, LLC (“Precision”) in an all cash transaction.
Precision is engaged in the manufacturing, leasing and servicing of wellhead reciprocating gas compressors.
Headquartered in Weatherford, Texas, Precision currently has facilities and operations in Texas and Oklahoma.
Post Oak Energy Capital provided funding for the start-up and growth of the business. Since its founding, Precision has steadily built its business organically through the deployment of units to an ever-growing customer base. The sale of equity interests in Precision is the next logical progression for the Company and its growth trajectory, and this transaction has resulted in a successful outcome for all.
About Post Oak Energy:
Post Oak, which was established in 2006, is an energy-focused private investor based in Houston, Texas. Its management team has executive management experience and a broad network in the energy business as well as significant expertise in equity investments, operations, development, finance, acquisitions and divestitures. The firm pursues private investments primarily in the upstream sector of the oil and gas industry in North America and, to a lesser extent, in oilfield service and related infrastructure. Post Oak works in close partnership with operating management teams to build businesses, accelerate growth and enhance shareholder value. www.postoakenergy.com.
About Precision Compression, LLC:
Precision Compression engineers compression solutions from an operator’s point of view. Centrally located in Weatherford, Texas, Precision Compression is managed by a team of compression experts with more than 80 years of experience in the upstream E & P business. www.precisioncompression.com.