White Deer

We're excited to announce the successful closing of a $243 million continuation vehicle for White Deer’s investment in Flogistix, LP, a leader in methane capture and production optimization. Led by GCM Grosvenor and a consortium of new institutional investors, this continuation vehicle provided liquidity to existing investors while enabling others to continue their investment in Flogistix. Flogistix’s innovative technology captures methane and other vapors from crude oil before being vented or flared into the atmosphere, reducing greenhouse gas emissions and helping operators increase production volumes. During White Deer’s ownership, Flogistix has achieved over 4x EBITDA growth and we continue to be excited for its future growth potential. This oversubscribed fund signals strong investor confidence in Flogistix's future, while providing an attractive return for investors who elected to take liquidity. We look forward to seeing what the future holds for this innovative company. https://lnkd.in/gypZNr4u

Last week, White Deer employees volunteered with Literacy Now, a Houston organization dedicated to empowering children and families through literacy and life skills. Reading to kindergarten and first-graders, we witnessed their enthusiasm for stories, a powerful reminder of the impact early literacy education can have. Founded in 2006, Literacy Now has grown from serving a single school to impacting over 2,500 children and their families across Houston. They provide essential tutoring, mentoring, and other programs, fostering a passion for learning and setting students on the path to success. We are proud to partner with such a dedicated organization. Together, we can make a lasting difference in the lives of these young learners.

LongPath Technologies Poised to Revolutionize Methane Emissions Monitoring with $189M DOE Loan We're thrilled to share the news of LongPath Technologies, Inc. securing a $189 million conditional loan from the U.S. Department of Energy (DOE) to build a groundbreaking network of 1,000 real-time methane monitoring stations across three major US oil and gas basins. This project leverages Nobel Prize-winning laser technology and aims to cover 25 million acres across the Permian, Denver-Julesburg, and Anadarko basins. LongPath's innovative technology holds promise for both environmental protection and industry advancement, and we're proud to support their journey. #methaneemissions #sustainability #innovation https://lnkd.in/gNN66wKP

Exciting news from the White Deer portfolio: Deep Well Services has embarked on a joint venture with the RTE Group, launching HH Energy Services in Saudi Arabia. This collaboration introduces advanced HCU & BoreSite Technology to the region, revolutionizing shale completion and workover interventions. This venture is a testament to Deep Well’s innovative spirit and global expansion efforts. As Mark Marmo, CEO of Deep Well Services, expresses, this is just the start of an impactful journey for the teams involved. Congratulations to Deep Well on this exciting development. We eagerly anticipate the successes HH Energy Services will bring to the Middle East. #JointVenture #Innovation #GlobalExpansion

A Milestone Achievement: Extract Companies Joins NOV We are proud to announce that Extract Companies, a White Deer portfolio company, was acquired by NOV on January 30, 2024. Since our initial investment in 2017, Extract has grown from a greenfield start-up to a leading pure-play production optimization solutions provider. We celebrate the Extract team for the success they have demonstrated over the course of our partnership. To read NOV's full Q4 report, visit: https://lnkd.in/gPxcmtX2

In our continued efforts to give back, we recently partnered with Blessings in a Backpack for a uniquely creative volunteer experience. Our team members designed uplifting and inspiring notes that will be attached to a backpack of food and distributed to underprivileged students nationwide. This collaboration brought our team as much joy as we hope it brings the families. Thank you to Blessings in a Backpack for providing us with the opportunity to contribute to their mission of creating a brighter future for the next generation.

Hats off to Mims Talton, CEO of White Deer portfolio company Flogistix, LP, for being recognized as a global leader in decarbonization and methane mitigation as part of a panel on the topic at ADIPEC. Mims was joined by leaders from ExxonMobil, SLB, Nabors Industries, Siemens Energy, and Weatherford. What an honor to see one of our own recognized among this distinguished group of leaders.

Thank you to all who joined us for our annual investor meeting in Houston. It was a great opportunity to bring our investors and portfolio company leaders together to share key updates and highlight two of our latest investments, WeldFit and Kaydon. This year, Justice Ken Wise joined us for dinner to share his perspective on the history of the oil and gas business in Texas. For those interested in learning more, Justice Wise hosts a podcast called "Wise About Texas," and we're absolutely hooked. We also want to send a special thank you to our keynote speaker, Marshall Adkins of Raymond James. Marshall delivered an engaging presentation on the crucial role oil and gas will continue to play in meeting the growing global energy demand — something we feel well positioned to capitalize on.

White Deer is proud to feature Joe Bob Edwards in a recent interview with Hart Energy at the Kay Bailey Hutchison Energy Symposium discussing the evolving dynamics within the energy industry.   Joe Bob, a proud Longhorn, explores pressing workforce challenges and the essential role higher education plays in addressing them. The energy sector is a dynamic and exciting place to build a career. White Deer, in partnership with The Kay Bailey Hutchison Energy Center, is committed to attracting young, talented professionals who are excited about the opportunities ahead.   We encourage you to listen to Joe Bob's insights and learn more about the energy sector's path forward. https://lnkd.in/gT-bXuFz

We were honored to have our own Joe Bob Edwards introduce Senator Hutchison at the 8th annual The Kay Bailey Hutchison Energy Center Symposium opening dinner at the The University of Texas at Austin. The dinner honored former Secretary of Commerce Don Evans with the 2023 Award for Outstanding Excellence in the Energy Industry.  During the dinner, Senator Hutchison made the exciting announcement that UT's Cockrell School of Engineering would be formally joining the Kay Bailey Hutchison Energy Center. This new partnership will create greater cohesion and further strengthen the Business and Law schools' efforts, and enhance the Center's ability to address the complex challenges facing the energy industry.  We are grateful to Senator Hutchison, Secretary Evans, President Jay Hartzell, the Deans of each school, and associated leadership teams for their dedication to the Kay Bailey Hutchison Energy Center and to the future of energy. White Deer is proud to support the Center and its important work.    #WhatStartsHere