Natural Gas Partners and NGP Energy Technology Partners Announce Formation of The Catapult Group

  Natural Gas Partners and NGP Energy Technology Partners Announce Formation
  of The Catapult Group

Business Wire

IRVING, Texas -- October 11, 2013

Natural Gas Partners, through its most recent fund, NGP Natural Resources X,
L.P., and NGP Energy Technology Partners II, L.P. (collectively “NGP”) have
made a significant capital commitment to establish The Catapult Group
(“Catapult”). Catapult invests primarily in start-up oilfield services
companies (“Affiliates”) established by experienced, entrepreneurial managers.

In addition to providing startup capital to Affiliates to fund general
overhead and capital expenditures, Catapult will provide back-office services
such as systems and consulting in accounting, finance, human resources, IT,
legal, HSE and risk management services. These services help accelerate the
launch of the business and serve as a resource to assist Affiliates in the
growth of their companies. Catapult also provides board-level support
throughout the life of the Affiliate, leveraging off of the experience and
knowledge of the Catapult team, other Affiliates and NGP. By providing these
services and resources, Catapult allows the senior management of its Affiliate
companies to place their primary focus on what matters most in operating their
company, particularly their customers, employees, services, equipment and
safety.

Catapult is led by Gregory D. Laake, an experienced oilfield services
executive with a track record of adding value in the oilfield services sector.
Mr. Laake has a successful background developing and managing back-office
infrastructure designed to enhance the capabilities of oilfield services
operations. Prior to joining Catapult, Mr. Laake served as Chief Financial
Officer and Director of CRC-Evans Pipeline International Inc., an NGP
sponsored company which was sold to Stanley Black & Decker Co. in 2010. Prior
to CRC-Evans, Mr. Laake held financial roles at National Oilwell Varco,
Weatherford International, Enterra and Schlumberger.

“I am extremely pleased to lead this innovative NGP venture,” said Mr. Laake.
“Catapult is well-positioned to partner with entrepreneurially-minded oilfield
services professionals so that they will have the highest chance of success
with their newly established companies. Our goal is to provide first-class,
process-driven systems and support so that oilfield services professionals can
build companies in their areas of expertise, without devoting precious time
and resources establishing the 'back office.' Catapult will enable Affiliate
CEOs to focus on the activities that are most crucial to the success of their
business, such as corporate strategy, procuring equipment, securing and
servicing customers, hiring employees, managing vendors, etc. As the name
implies, Catapult is able to launch entrepreneurs into business quickly and
efficiently with minimal back-office effort on the part of the entrepreneurial
teams.”

“Catapult will be an attractive venue for oilfield services managers to pursue
their entrepreneurial ambitions in the same manner that the E&P community has
been building companies with NGP for decades,” said Kenneth A. Hersh, CEO of
NGP Energy Capital Management. Phil Deutch, Managing Partner of NGP Energy
Technology Partners, added, “We look forward to working with Greg and
Catapult’s Affiliate CEOs to introduce best-in-class products and services to
the oil & gas industry.”

To date, Catapult has funded experienced management teams to build a well
testing company and a coiled tubing service company. Also, Catapult continues
to build out a team of financial, accounting, HS&E, and information technology
leaders to provide support services and guidance to existing and future
Catapult Affiliates.

About Natural Gas Partners

Founded in 1988, Natural Gas Partners (NGP) is a $10.5 billion family of
private equity investment funds organized to make investments in the natural
resources sector. NGP is part of the investment platform of NGP Energy Capital
Management, a premier investment franchise in the natural resources industry,
which together with its affiliates has managed approximately $13 billion in
cumulative committed capital since inception. www.naturalgaspartners.com

About NGP Energy Technology Partners

NGP Energy Technology Partners ("NGP ETP") invests equity capital for growth
and buyout transactions in companies that provide products and services to the
oil and gas, power, environmental, energy efficiency, and alternative energy
sectors. Founded in 2005, NGP ETP manages approximately $500 million and is
led by investment professionals that have extensive experience investing in
virtually all types of energy technology. The investment team strives to
partner with strong, experienced management teams and work with them to create
significant value. NGP ETP is an affiliate of NGP Energy Capital Management.
www.ngpetp.com

Contact:

Catapult Energy Services Group, LLC
Gregory D. Laake, 832-615-3660
or
Natural Gas Partners
Daniel Goodman, 713-579-5725
or
NGP Energy Technology Partners
Michael LeBourgeois, 504-586-3848
 
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