Balcones Energy Holdings LLC, an affiliate of Post Oak Energy Capital LP, in partnership with individual investors, has sold its equity interests in Precision Compression LLC in a cash transaction. Post Oak originally provided funding for the start-up and growth of the business.
Precision manufactures, leases and services wellhead reciprocating gas compressors. Headquartered in Weatherford, Texas, Precision has facilities and operations in Texas and Oklahoma. Since its founding, Precision has grown organically by deploying units to an expanding 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,” the companies said in a written statement.
Established in 2006, Post Oak is an energy-focused private investor based in Houston, Texas. 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.
To contact the author, email bertie.taylor@rigzone.com.
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