Creedence Energy Services, a portfolio company of Tower Arch Capital, has recapitalized Magna Energy Services in partnership with its CEO, Adam Kelly.
Headquartered near Farmington, N.M., Magna Energy Services provides a comprehensive suite of production chemicals to leading oil and gas providers in the San Juan and Permian basins. Following the transaction, Magna will be a wholly owned subsidiary of Creedence, and Kelly will continue as an operator and a significant investor.
“We are thrilled about this partnership with Magna Energy Services and to add Adam Kelly to our team,” said Kevin Black, CEO of Creedence. “Magna represents our continued investment into New Mexico, the second-largest oil-producing state in the country.”
The partnership with Magna Energy Services, and a prior combination with ProChem Energy Services, expands Creedence's scale and geographic reach. The combined company manages more than 8,000 wells and 5 million gallons of productio
