Catapult Group formed from consortium of funds and groups of companies
The most recent fund of the Natural Gas Partners, NGP Natural Resources X LP as well as NGP Energy Technology Partners LP had pledged significant capital commitments in order to establish the Catapult Group. Catapult invests in start-up oilfield servies companies established by well established management teams.
The fund would provide startup capital to its affiliates through overhead and capital expenditures, the company would be providing back office services and other office administrative services. These services include accounting, finance, human resources, IT legal, HSE and risk management expertise. The services help in accelerating the launch of the business as well as serve as resource assistants for the Affiiliates.
As of late, Catapult had funded a number of expert management teams to establish a well testing company and coiled tubing service firm.
For its part, Natural Gas Partners is a consortium of private equity funds amounting to USD10.5 billion. The funds were organized to create investment opportunities in the natural resources sector.
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