Pro Oil & Gas “Recapitalizes” with PE Firm Intervale Capital

Pro Oil & Gas Services (formerly Pro Oilfield Services) is an oilfield services company (OFS) providing wireline, pumping services, flowback, frac stacks, wireline lubricators and pressure control, surface drilling and more. The company is headquartered in Houston, TX operating in a number of shale plays, including the Marcellus/Utica. We were unaware of the company until spotting a press release that announces the company has been “recapitalized” by Intervale Capital, a private equity (PE) firm that invests money in companies, adding them to its “portfolio.” The terms of the recapitalization were not disclosed. What all of this high finance language means is this: Pro Oil & Gas was just bought out by Intervale Capital. We expect all of the personnel to remain the same, including the founder/CEO. But make no mistake, Intervale now pulls the strings. It’s their money at risk, and they are now calling the shots…

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