Genesis Park and its investment partners have made an equity commitment to Estis Compression, LLC and McClung Energy Services, LLC, collectively “Estis.” Estis is a compression rental and services business that manufactures and operates a fleet of conventional and High Pressure Gas Lift (HPGL) compressors. The company’s services have traditionally provided wellhead compression on mature wells, but today its units are increasingly used for artificial lift applications for initial production. It serves leading E&P companies across Texas, Oklahoma and Louisiana.
Estis’ HPGL business has experienced significant growth as it provides unique benefits not available with incumbent solutions. HPGL is an artificial lift application that utilizes compressors to inject native gas from the wellbore to lift hydrocarbons and does not require the use of any downhole equipment and is easy to install and maintain. This lowers potential production downtime and total equipment costs for operators. Estis’ customers are also using the HPGL compression technology as an enhanced oil recovery (EOR) technique towards the end of a well’s decline curve, in place of expensive Electronic Submersible Pumps (ESPs) that often have high failure rates.
Estis’ fleet is comprised of conventional low horsepower compressors and HPGL compressors that are skid-mounted, have small footprints and flexible designs. Growth financing will enable Estis to expand its fleet size, build its brand through marketing and sales efforts and serve additional domestic basins.
Estis is a classic “efficiency innovation” solution for the producing segment of the oilfield, as the sector seeks to maximize production from existing wells and minimize flaring of gas produced with oil. Estis is headquartered in Kilgore, Texas and has an equipment manufacturing facility in Longview, Texas. The company will continue to be led by Chad Roberts and its management team of industry veterans.