With the financial help of Denver-based Aspen Energy Partners, Citadel Casing Solutions of Houston has launched operations after getting its initial investment.
Citadel was founded in July by former employees of Halliburton Co. and now manufactures casing equipment and accessories in support of well construction and wellbore integrity, according to a recent report in the Houston Business Journal.
The co-founders are Kurt Crowley and Hank Rogers. Crowley spent 16 years with Halliburton while Rogers worked for the company for more than 26 years.
Crowley credited timing with the creation of the company, explaining many companies scaled back in the downturn and ended up helping Citadel with cost management and talent acquisition.
Aspen Energy Partners was formed earlier in the year through a $100 million equity commitment from NGP Energy Capital Management company of Irving, Texas. It offers commitments of $10 million to $30 million to oil field service firms.