Morgan Stanley Energy Partners, Catalyst Energy form strategic partnership
Investment funds managed by Morgan Stanley Energy Partners, part of Morgan Stanley Investment Management, and Midland, Texas-based Catalyst Energy Services LLC announced a strategic partnership whereby MSEP has made a majority equity investment in Catalyst to support the growth of the company's pressure pumping and other complementary services in premier U.S. oil and gas basins. Proceeds from MSEP's investment will be used to purchase state-of-the-art Tier IV pressure pumping equipment specifically designed to maximize pumping efficiency and meet the needs of E&P customers' modern completion designs. The partnership with MSEP provides the company with capital and resources to significantly expand Catalyst's equipment fleet and service offerings. In connection with MSEP's equity investment, the company expects to introduce new pressure pumping and pump down equipment into the Permian Basin in 3Q 2018 with additional plans to expand its service offerings and geographic footprint to support its customers.