Dynacorp Energy Services said May 5 it received an growth equity investment from Intervale Capital. The value wasn't disclosed.
Dynacorp, based in Calgary, Alberta, provides innovative sand management solutions, well testing and production processing equipment to operators and service providers in the oil and gas industry.
Justin Morin, Dynacorp's co-founder and CEO, sought the investment as part of a broad recapitalization of the company, the release said.
"Operators face growing sand management challenges, which are made more acute in today's tough industry environment," Morin said.
Dynacorp will work with Intervale to accelerate the company's growth strategy across North America, he added. The company has a manufacturing facility in Grand Prairie, Alberta, and has deployed equipment across North America.
Intervale, an energy-focused firm with offices in Houston and Boston, has raised $1.3 billion of committed capital since its inception in 2006 and is currently investing from its third fund.
Recommended Reading
NAPE: The Power and Pitfalls of AI in the Oil Patch
2024-02-08 - Industry experts at NAPE explore AI as an antidote to information overload and inefficiencies.
CERAWeek: Human Oversight, Machine Power: AI’s Future in Energy
2024-03-22 - A CERAWeek panel tackles how AI's hunger for complexity can devour the energy industry's toughest challenges.
AI Copilot, Not Captain: Pragmatic Cybersecurity to Protect Grid
2024-04-01 - AI experts at CERAWeek by S&P Global issued a wake-up call for the energy sector, suggesting AI could help secure critical infrastructure in a hostile geopolitical landscape.
‘Growth Story’ for Oil: Rice's Kenneth Medlock on Demand Trends
2024-03-05 - Economics drive oil demand, not politics, Rice University’s Kenneth Medlock said during the International Drilling Conference and Exhibition in Galveston.
Chevron Exec: Shale Still in ‘Early Days’ of Recovery Potential
2024-03-08 - From innovation to shale well recovery rates, executives at Chevron, SLB, Helmerich & Payne and Transocean see a lot more work ahead.