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News Stories (65 Results) - Energy Services

Versant  Funding funded a $3 million non-recourse factoring transaction to a supplier to the oil and gas industry. Since the energy  sector has rebounded from the impacts of the pandemic, this company has experienced increasing demand for their... Read Story

June 15, 2021, 08:00 AM

Commercial Finance Partners closed a new $500,000 revolving credit facility for an oil and gas service provider. As part of Commercial Finance Partners new platform to fund both term and revolving credit facilities, the company originally provided a... Read Story

May 17, 2021, 08:00 AM

EVCS, one of the largest electric vehicle (EV) fast-charging network operators on the U.S. West Coast, closed a credit facility with the Commodity and Global Markets group of Macquarie Group. The credit facility will enable EVCS to deliver on the... Read Story

April 16, 2021, 08:00 AM

Stabilis Solutions secured a $10 million credit facility that will be used to support the Company's working capital requirements. The credit facility is being provided by Ameristate Bank in conjunction with the U.S. Department of Agriculture's ("USDA... Read Story

April 16, 2021, 05:00 AM

Fitch Ratings held several roundtables with energy investors at the recent annual Fitch Energy Summit. Questions posed by investors included potential M&A in the upstream sector, energy sector access to capital, fallen angel risk, stabilization of... Read Story

November 12, 2020, 07:00 AM

White Oak Commercial Finance provided a $5 million Receivables Financing Facility to a software and program management services firm that provides renewable energy-related solutions to public and private utilities providers.The transaction was... Read Story

November 10, 2020, 08:25 AM

Sallyport Commercial Finance provided a $500,000 Accounts Receivable facility to a company that specializes in servicing, maintaining and repairing generators.Having prior experience in the generator industry has allowed this newly-formed company to... Read Story

October 30, 2019, 09:00 AM

Spark Power Group Inc. (SPG.TO), parent company of Spark Power Corp. ("Spark Power" or the "Company"), a leading independent provider of end-to-end electrical contracting, operations and maintenance services, and energy sustainability solutions to... Read Story

October 01, 2019, 08:00 AM

World Fuel Services Corporation announced that it has successfully amended its unsecured credit facility, increasing the overall facility to $1.8 billion and extending the term of the credit facility to July 2024.“As a result of this transaction... Read Story

July 25, 2019, 08:45 AM

Aqua Terra Water Management, LP, a North American growth-oriented oilfield water management and logistics company, announced the closing of U.S. $80 million senior secured syndicated credit facilities. In addition to refinancing existing credit... Read Story

July 15, 2019, 08:45 AM

Encina Business Credit, LLC (EBC) announced that it has provided a $15 million senior secured revolving credit facility to an oil field services company. The credit facility consists of a revolving line of credit based on accounts receivable and... Read Story

April 16, 2019, 09:00 AM

Shawcor Ltd. announced that it has closed on the previously announced credit facility (the “Credit Facility”) with The Toronto-Dominion Bank and National Bank of Canada as co-lead arrangers and HSBC Bank Canada, JPMorgan Chase Bank, The Bank of Nova... Read Story

March 14, 2019, 12:00 PM

Sallyport Commercial Finance offers a $2,000,000 Accounts Receivable facility to a new start oil and gas service company specializing in downhole work, tank cleaning and line finding. The owner is a seasoned and serial entrepreneur with more than 30... Read Story

November 05, 2018, 07:30 AM

Amerisource Business Capital announced the closing and funding of a $2,000,000 credit facility for a recently acquired oilfield services and heavy-haul trucking company based in Texas. Proceeds of the facility were used to leverage the new private... Read Story

September 21, 2018, 08:00 AM

Amerisource Business Capital announced the closing and funding of a $1,000,000 credit facility for an oilfield tools and equipment Company in Texas.  Proceeds of the facility were used to support business growth.Allison Billings, Market Manager for... Read Story

June 22, 2018, 07:00 AM

Big Shoulders Capital funded a $1.6 million term loan for a New Mexico based trucking company that transports crude oil products. Due to increased oil prices and activity in the Permian, the company wanted to acquire additional equipment to keep up... Read Story

June 07, 2018, 07:00 AM

TradeCap Partners recently closed a $500,000 purchase order funding facility for a Massachusetts distributor of cenospheres used in a variety of applications ranging from the oil and gas to consumer products industries.  While the company was... Read Story

June 05, 2018, 08:00 AM

When a Gulf Coast regional bank referred over a underperforming line of credit, Republic Business Credit replaced their facility while partnering with the bank to offer a new term loan secured by equipment and real estate. The client sought new... Read Story

May 04, 2018, 07:00 AM

CapX Partners added to its previous Fund IV investment in Adler Hot Oil Service, LLC (Adler) by providing a senior secured term loan and lease line of credit totaling $2.75 million to the company. This is the second round of financing provided to... Read Story

March 02, 2018, 08:00 AM

Amerisource Business Capital announced the closing and funding of a $1,000,000 asset based revolver for a Texas-based pipeline service and repair firm.  The company was introduced to Amerisource by its banker.  Proceeds from the facility were used... Read Story

February 20, 2018, 08:00 AM

Sallyport Commercial Finance provided a $10,000,000 AR Bulk ABL Facility to a provider of market leading technology in the oilfield industry.The company was seeking traditional bank financing, but when declined under time sensitive circumstances... Read Story

February 12, 2018, 08:00 AM

Capital Foundry Funding, LLC closed the financing of a $5 million revolving line of credit for its client, a Pittsburgh-based energy services company. The financing will help the company continue to grow and scale its operations.CFF, the... Read Story

November 03, 2017, 07:00 AM

Stonegate Capital has closed on a $4.5 million senior secured credit facility for a private equity-owned oilfield services company. The company provides completion, production, and intervention-related equipment and services for oil and gas operators... Read Story

September 14, 2017, 07:00 AM

Encina Business Credit, LLC (EBC) announced that it has provided a $5 million asset-based revolving credit facility to an oilfield services company. The credit facility consists of a revolver secured by accounts receivable, the proceeds of which will... Read Story

July 25, 2017, 08:12 AM

US Capital Partners Inc. has advised on an equity raise of up to $5 million for Illuminergy, Inc., an expanding developer of LED lighting products. Illuminer is preparing to launch its innovative LED street and parking light system called Cobratech... Read Story

March 15, 2017, 08:00 AM

Hydrogenics Corporation, a leading developer and manufacturer of hydrogen generation and hydrogen-based power modules, today announced that it has entered into a credit agreement with Export Development Canada (“EDC”) for a five year, U.S.$9 million... Read Story

November 07, 2016, 07:50 AM

Tiger Liquidity Services Energy Partners (TLSEP), in cooperation with Century Services Corp., has been retained by court appointed receiver KPMG to sell late-model, low-hour pressure pump and fracking fleet assets formerly owned by Millennium... Read Story

June 30, 2016, 07:24 AM

Western Refining, Inc. announced the successful syndication of a $500 million Term Loan B-2.  The term loan, which has a seven-year maturity and is priced at LIBOR (subject to a 1% floor) plus 4.5%, will be used to fund a portion of the purchase... Read Story

May 31, 2016, 08:00 AM

McDermott International, Inc. announced that it has satisfied all conditions to the amendment to the Company’s Senior Secured Credit Agreement (“Amendment No. 3”) which in part extends the maturity date of the letter of credit facility under the... Read Story

May 17, 2016, 07:36 AM

Independence Contract Drilling, Inc. announced that it has amended its existing senior secured revolving credit facility and modified covenants to improve the company's financial flexibility.  Material components of the credit facility amendment... Read Story

April 15, 2016, 07:59 AM

Quantum Fuel Systems Technologies Worldwide, Inc., announced that an event of default under the Company’s credit facility with Bridge Bank, National Association occurred on March 14, 2016, as a result of the Company’s failure to make a $2.7 million... Read Story

March 16, 2016, 07:53 AM

Superior Drilling Products, Inc., a provider of drilling products for the oil, natural gas and mining services industries, announced today the completion of a new $3 million credit facility which is comprised of a two year, $2.5 million accounts... Read Story

March 09, 2016, 08:00 AM

Forum Energy Technologies, Inc. announced it has entered into an amended credit facility (the “Credit Facility”) with its bank syndicate. The $200 million Credit Facility reduces Forum’s on-going annual commitment fees on the undrawn facility by... Read Story

February 29, 2016, 07:45 AM

Bibby Financial Services announces a major lending deal for early 2016 – a $3 million asset-based loan provided to a Florida-based provider of skilled labor for the oil and gas and marine industries.The value-added service provider has supported... Read Story

January 26, 2016, 07:12 AM

TFS Solutions provided a $3 million asset-based lending facility which refinanced the company's existing debt and provided ongoing working capital to support the company's operations. With the continued decline in the price of oil, banks have begun... Read Story

January 22, 2016, 08:01 AM

Allied Affiliated Funding announced the following recently closed transaction: $7.5 million accounts receivable facility including a $1.2 million real estate loan to an oil and gas servicing company that focuses on water and mud hauling. The company... Read Story

December 29, 2015, 07:44 AM

Superior Plus Corp. announced that its wholly-owned subsidiaries Superior Plus LP, Superior Plus US Financing Inc. and Comercial E Industrial ERCO (Chile) Limitada have completed an extension of its $570 million syndicated credit facility, with... Read Story

December 23, 2015, 07:06 AM

Trican Well Service Ltd. announced that it has completed the definitive agreements with its bank lenders under its revolving credit facility, and with the holders of its senior notes, to make certain amendments to the applicable credit... Read Story

November 16, 2015, 07:12 AM

Trade Finance Solutions, Inc. (TFS) announced it has provided a $3 million accounts receivable financing facility to an oilfield services company in Alberta, Canada.  The third generation company saw a drop in sales over the past quarter due to the... Read Story

September 23, 2015, 07:22 AM

Allied Affiliated Funding announced the following recently closed transaction:  $750,000 invoice factoring facility to a recently formed business that provides frac water treatment services to the oil and gas industry.  The company tried to get a... Read Story

August 28, 2015, 07:07 AM

Allied Affiliated Funding is pleased to announce the following recently closed transaction:  A $1.5 million accounts receivable facility to an oil and gas servicing company that focuses on providing equipment and work crews for the maintenance and... Read Story

August 19, 2015, 07:03 AM

Navigator Energy Services (NES) closed on a senior secured revolving credit facility in the amount of $125 million. NES is a crude-oil-focused midstream company funded by management and First Reserve's Energy Infrastructure Fund.The credit facility... Read Story

August 06, 2015, 07:16 AM

Broadwind Energy, Inc. announced the extension of its $20 million credit facility with Atlanta-based AloStar Bank of Commerce. Under the terms of the new agreement, the facility will transition from a $20 million revolving line of credit to a $15... Read Story

June 30, 2015, 07:51 AM

Allied Affiliated Funding announced the following recently closed transaction:  A $7.5 million accounts receivable facility including a $1.2 million  real estate loan to an oil and gas servicing company that focuses on water and mud hauling. The... Read Story

June 08, 2015, 07:46 AM

Targa Resources Corp.  announced that, subject to market conditions, it intends to launch syndication of a $430 million senior secured term loan maturing seven years after closing. The company intends to use the net proceeds from the term loan... Read Story

January 23, 2015, 07:26 AM

Allied Affiliated Funding is pleased to announce the following recently closed transaction: A $10,000,000 receivables financing facility that closed and funded within one week of sending out the proposal letter for a full service oil and gas... Read Story

October 13, 2014, 08:01 AM

Marquette Business Credit announced it has provided a $6 million revolving line of credit secured by accounts receivable and inventory to The Industrial Group, LLC to refinance its existing line of credit and to support its continued growth. The... Read Story

October 01, 2014, 07:24 AM

SECURE Energy Services Inc. announced it has entered into an amended and restated $700 million syndicated credit facility ("Syndicated Facility") with a syndicate of ten financial institutions and Canadian Chartered banks.The Syndicated Facility... Read Story

September 30, 2014, 07:06 AM

Cal Dive International, Inc. announced it has executed commitment letters with three financial institutions providing for a $125 million senior secured credit facility that may consist of both a term facility and revolving facility to refinance the... Read Story

August 22, 2014, 07:07 AM

Republic Business Credit announced it is supporting a Southwest based energy sector fabrication and repair service business with a $4 million accounts receivable facility to foster the company’s continuing growth.The business had a long term banking... Read Story

August 20, 2014, 07:14 AM

Republic Business Credit announced it provided a $2.5 million working capital facility to a growing Southeastern energy sector technical and engineering services business. The business was looking at many opportunities to expand its services and was... Read Story

August 12, 2014, 07:26 AM

Ocean Rig UDW Inc. announced that due to favorable loan market conditions, the company's wholly owned subsidiaries, Drillships Ocean Ventures Inc. and Drillships Ventures Projects Inc., intend to increase the amount of their proposed senior secured... Read Story

July 21, 2014, 07:21 AM

Exchange Capital Corporation announced that it recently closed a $300,000 relationship to facilitate growth and to provide ongoing working capital for an Arkansas oil field service company. "This transaction is an example of how accounts receivable... Read Story

June 30, 2014, 04:12 PM

The Babcock & Wilcox Company (B&W) has completed the amendment and restatement of it senior secured credit facility. The Second Amended and Restated Credit Agreement increases B&W's revolving credit facility from $700 million to $1 billion for the... Read Story

June 26, 2014, 07:18 AM

Amerisource announced the closing and funding of a $500,000 working capital revolver, secured by accounts receivable, for an oilfield service company based in Texas. Proceeds of the facility were used for growth and working capital.  The company... Read Story

June 26, 2014, 06:49 AM

Amerisource announced that it closed and funded a $3 million revolving credit facility for an oilfield services company based in Texas. Amerisource was introduced to the business by the Company's bank. Proceeds of the facility were used to refinance... Read Story

June 16, 2014, 07:43 AM

MidCap Business Credit announced that it has completed a $3.5 million asset-based credit facility to Smart Chemical Services, headquartered in Amarillo, TX. Smart Chemical Services is chemical provider serving the oil and gas industries. The... Read Story

June 09, 2014, 07:46 AM

Cal Dive International, Inc. announces that it has refinanced its debt to provide more flexibility and liquidity for ongoing and future construction work, primarily in Mexico. The company has entered into a $100 million senior secured second lien... Read Story

May 12, 2014, 07:09 AM

Prospect Capital Corporation announced today that Prospect has provided $61.0 million in senior secured debt and equity for the recapitalization of Arctic Energy Services, LLC. (“Arctic”), an oil and gas service company based in Glenrock, Wyoming and... Read Story

May 06, 2014, 07:05 AM

Graycliff Partners, an independent investment firm focusing on middle market private equity and mezzanine investments, announced it has completed a mezzanine investment in Tri Con Works LP.  Graycliff’s investment provides subordinated debt financing... Read Story

April 02, 2014, 07:33 AM

RockPile Energy Services, LLC , a wholly owned subsidiary of Triangle Petroleum Corporation announced that it has closed on a senior secured revolving credit facility in the amount of $100 million. The new Credit Facility is a five-year term $100... Read Story

March 31, 2014, 07:31 AM

Paragon Financial Group announces funding programs for US oil & gas suppliers along the entire supply chain. With over 20 years funding oil & gas suppliers, Paragon Financial understands the industries involved, their specific needs and has created... Read Story

March 25, 2014, 06:58 AM

Amerisource announced that it closed and funded a $2 million revolving credit facility for an oil and gas field services provider based in Texas. Proceeds of the facility were used to refinance the company’s existing bank line and to provide... Read Story

March 21, 2014, 07:22 AM

PNC Bank announced the closing of $50 million in senior secured financing for a portfolio company of Hammond, Kennedy, Whitney & Company, Inc. (HKW), a private equity firm  headquartered in Indianapolis. The funds were used to acquire and consolidate... Read Story

January 17, 2014, 06:38 AM

Thermo Credit, LLC announced it has provided $1 million in accounts receivable financing to Texas based River Bend Geo Services, LLC.Seth Block, Executive Vice President of Thermo Credit commented, “We are pleased to provide this facility to River... Read Story

December 17, 2013, 07:18 AM