A daily newsletter summarizing recent activity & interesting startups in the energy storage sector globally
RECENT NOTABLE ACTIVITY – OIL & GAS
- Luxe Energy raised $524M in equity funding from NGP. Link
- Tiger Rentals Group raised $135M debt financing from Orion Energy Partners and JP Morgan Chase Bank. Link
- Oil & Gas exploration company Velvet Energy announced $125M debt financing. Link
- Tailwater Capital invests $100M in Producers Midstream, a newly formed midstream oil and gas company. Link
- Airborne Oil & Gas, manufacturer of Thermoplastic Composite Pipes for oil & gas applications, raised $26M from Saudi Aramco Energy Ventures and others. Link
- Tachyus, developer of machine learning software for oil production optimization, raised $5M in funding from strategic investors. Link
- Rosneft buys Essar Oil in an all-cash deal valued at about $13B. Link
- RSP Permian agreed to acquire Silver Hill for $2.4B. Link
- Downhole supplier Rubicon Oilfield acquires tool supplier Logan International. Link
- Oceaneering completes acquisition of Blue Ocean Technologies. Link
- Kayne Anderson closed its seventh Oil & Gas focused PE fund at $2B. Link
- Indian Oil floats a $4.5M fund for startups in oil sector. Link
- GE develops an oilfield drone called “Raven” that can sniff methane leaks in oil wells. Link
SOME INTERESTING STARTUPS FOUND
Metabolik Technologies (2016, Vancouver) – Bioremediation technology to treat hazardous compounds in oil sands tailing ponds. The platform enables microbes to reduce the concentration of naphthenic acids and other contaminants.
LEADER BOARD – OIL & GAS
Horizontal
ExxonMobil (1999, Irving, IPO) – Multinational oil and gas company and one of the world’s supermajors. The company is involved in upstream, downstream and chemical business. Went public in November 1999.
Seven Energy (2004, Lagos, $688M) – Nigerian integrated oil and gas company which explores for, develops, produces and distributes oil and natural gas. Backed by Capital Group, Temasek, IFC, Islamic Development Bank (IDB), IFC Asset Management Company, Plant Asset Management (Petrofac), FBNQuest, Standard Chartered, and FCMB.
Exploration & Production
Devon Energy (1971, Oklahoma City, IPO) – Engages primarily in exploration, development, and production of oil, natural gas, and natural gas liquids (NGLs) in North America. Went public in March 1988.
Venari (2012, Dallas, $2.8B) – Explores and produces oil and natural gas with focus on subsalt plays. Backed by Kelso and Company, Warburg Pincus, The Jordan Company, Temasek.
Seven Generations Energy (2008, Calgary, $2.2B) – Natural gas exploration and production company focused in the Kalwa River Basin in Canada. Backed by Triangle Peak Partners, Azimuth Capital Management, CPP Investment Board.
Midstream
Spectra Energy (2006, Houston, IPO) – Integrated Midstream company in US and Canada. Provides transmission and storage, distribution, and gathering and processing. Went public in July 2007.
Caiman Energy II (2009, Dallas, $800M) – Provides Gas Gathering, Compression, Treating, Processing & Transportation, Condensate Handling, NGL, Fractionation, storage and Marketing. Backed by Highstar Capital, EnCap Flatrock Midstream, Williams Companies.
MODA Midstream (2015, Houston, $750M) – Provides terminal, storage, and distribution solutions to refiners and petrochemical manufacturers. Backed by EnCap Flatrock Midstream.
Downstream
GreatPoint Energy (2004, Chicago, $562M) – Developed technology of catalytic process, hydromethanation, by which coal, petroleum coke and biomass are converted directly into natural gas. Backed by yet2Ventures, The Dow Chemical Company, Suncor, Kleiner Perkins, Khosla Ventures, SevenMile Capital Partners, Presidio Ventures, ATV, Hercules Technology Growth Capital, AES Corporation, DFJ.
Equipment & Services
Schlumberger (1926, Paris, IPO) – Integrated oilfield services company providing technology, project management, survey and monitoring, information solutions to the international petroleum industry. Went public in January 1978.
Sidewinder Drilling (2011, Houston, $125M) – Provides contract drilling services to exploration and production companies targeting unconventional resource plays in North America. Backed by Avista Capital Partners.
Welltec (1994, Alleroed, $116M) – Provider of robotic, well intervention solutions and completion products for the oil and gas industry. Backed by Summit Partners, EXOR SPA.
Drillinginfo (1999, Austin, $205M) – Data analytics company which provides data, analytical tools, and advisory services to oil and gas exploration decision support applications. Backed by Eastern Advisors, Delta-V Capital, Battery, Cross Creek Advisors, Insight Partners.
Technology Developer
Glori Energy (2005, Houston, $39M) – Technology developer of a biotechnology process for increasing oil recovery from existing reservoirs. Backed by OMZEST, Malaysian Life Sciences Capital Fund, Energy Technology Ventures, Kleiner Perkins, Advantage Capital Partners, Gentry Venture Partners, Oxford Partners, GTI Capital Group, Hercules Technology Growth Capital, Oxford Bioscience Partners.
Foro Energy (2009, Boulder, $21M) – Developed long-distance laser technology to break ultrahard rocks for faster drilling and completion. Backed by Presidio Partners, Formation, North Bridge, Chevron.
Leaderboard includes all the top funded, IPO and successfully running bootstrapped companies along with their location, founding year and funding amount.
For latest updates visit Oil & Gas feed.