Pelican Energy Partners Majority Recapitalizes Lodestar International; Combines with MaxWell Downhole Technology
May 28, 2018
Pelican Energy Partners has completed a majority recapitalization of Lodestar International and is combining Lodestar with Aberdeen-based MaxWell Downhole Technology, providing growth capital to support greater rental-tool availability, improved service and faster product development. Lodestar will assume operational functions for the combined business as the group scales DWD (dynamics-while-drilling) tool rental, services and technology development across North America and internationally.
- Buyers
- Pelican Energy Partners
- Targets
- Lodestar International, LLC, MaxWell Downhole Technology Limited
- Industry
- Oil & Gas
- Location
- Texas, United States
- Transaction Type
- Recapitalization
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