GE Capital, Corporate Finance has provided a $17 million credit facility to ROC Services Co., an oil and gas wellsite services supplier. The funds will be used to refinance existing equipment and to support the acquisition of the company by Coral Reef Capital.
Headquartered in Bridgeport, Texas, ROC Services provides wellsite services such as maintenance, excavation and hauling, and flowback services to oil and gas companies operating in the US. The company’s service offering spans the entire life cycle of hydrocarbon production and includes: the preparation and installation of wellsites and production facilities for drilling, completion and production activity; the maintenance or replacement of surface facilities and production infrastructure throughout their economic life; and the decommissioning and abandonment of wellsites and assets as dictated by customers’ diminishing returns and/or compliance with regulations. ROC operates from 11 district offices across eight states.
GE Capital Markets served as co-lead arranger and joint book runner on the facility.