This one is follow the bouncing ball. In February 2017 Permian-based oilfield service company Light Tower Rentals merged with Globe Energy Services and became GlobeLTR Energy Inc., which is one of the portfolio companies of Clearlake Capital Group. Clearfield is the money and likely offers “advice” (i.e. directives) on how to run the business. After all, it’s their money on the line. Earlier this week GlobeLRT Energy changed names again, and has become Gravity Oilfield Services. It is a “comprehensive rebranding effort,” according to the announcement. Why do we care? Because Gravity nee GlobeLRT nee Globe Energy has operations in the Marcellus/Utica region. In fact, in addition to the mighty Permian oil play, they also operate in the Eagle Ford Shale, SCOOP/STACK, Williston Basin, DJ Basin, Marcellus Shale and Haynesville Shale–among others. Sometimes you need a score card to keep track of who does what and what they call themselves…
This one is follow the bouncing ball. In February 2017 Permian-based oilfield service company Light Tower Rentals merged with Globe Energy Services and became GlobeLTR Energy Inc., which is one of the portfolio companies of Clearlake Capital Group. Clearfield is the money and likely offers “advice” (i.e. directives) on how to run the business. After all, it’s their money on the line. Earlier this week GlobeLRT Energy changed names again, and has become Gravity Oilfield Services. It is a “comprehensive rebranding effort,” according to the announcement. Why do we care? Because Gravity nee GlobeLRT nee Globe Energy has operations in the Marcellus/Utica region. In fact, in addition to the mighty Permian oil play, they also operate in the Eagle Ford Shale, SCOOP/STACK, Williston Basin, DJ Basin, Marcellus Shale and Haynesville Shale–among others. Sometimes you need a score card to keep track of who does what and what they call themselves…