Wellsite Rental Services LLC, a Broussard-based oilfield rental equipment firm, said the company has secured an equity investment from NPG Energy Technology Partners.
The details of the investment were not disclosed, but Wellsite Chairman Kirby Arceneaux said the money will help the company expand its footprint and product offerings.
Wellsite also has facilities in Tulsa, Oklahoma, and Victoria, Texas. The company provides rental tubing and the associated handling tools; specialty trailers; cooling and heating trailers; and other equipment being designed to reduce drilling and well-completion costs NPG Energy Technology Partners manages approximately $500 million in capital. The private equity firm has offices in Washington, D.C. and New Orleans. NPG typically invests $5 million to $30 million for a minority interest in a company.