Caterpillar Makes Equity Investment in GTUIT
Just a little more than one year ago, GTUIT turned to CapX Partners for growth capital to allow them to capitalize on the significant opportunities ahead of them. The company is continuing to prosper with the recent announcement that Caterpillar has made an equity investment in GTUIT as they plan to collaborate on the delivery of innovative solutions through gas treatment offerings.
The announcement states:
Caterpillar Oil & Gas is pleased to announce that Caterpillar has made an equity investment in GTUIT, a manufacturer of mobile gas treatment systems. The companies plan to collaborate to deliver innovative, sustainable solutions designed to create customer value by treating associated gas from production wells with the expectation of reducing emissions and the related costs from flaring. GTUIT products and services are manufactured for customers operating in production, land drilling and well stimulation applications.
Headquartered in Billings, Montana, GTUIT was founded in 2011 to provide customers with creatively engineered and tested solutions to meet the dynamic conditions found in oil fields around the world. “At GTUIT, we have differentiated ourselves in the gas capturing market by offering mobile, scalable solutions that significantly reduce flare volume and maximize production levels under increasing government regulations,” Brian Cebull, President and CEO of GTUIT stated. “As a result of the Caterpillar investment, we are looking forward to expanding beyond the Bakken into other North American basins as well as global markets.”
“At Caterpillar, we are continuously looking for successful companies who share in our commitment to sustainability, one of our enterprise core values, and who strive to proactively find solutions to complex energy problems in today’s production environment,” said Dave Dunlevy, Caterpillar Oil & Gas managing director. “Through future collaborations with GTUIT, we expect our customers to have access to an enhanced portfolio of solutions that we believe are tailored to reducing emissions, increasing productivity, and lowering costs.”
As a result of the investment, GTUIT expects to continue to expand their offering of turnkey flare reduction systems and treatment services. “Sourcing the correct gas treatment systems can be challenging. With GTUIT, customers can select the appropriate services and solutions for their operations,” Cebull stated.
For more information on the solutions and services Caterpillar Oil & Gas offers, please visit http://www.catoilandgasinfo.com/. Follow us on Facebook:www.facebook.com/caterpillaroilandgas and Twitter: www.twitter.com/catoilandgas
ABOUT CATERPILLAR OIL & GAS
Caterpillar Oil & Gas, Caterpillar Inc.’s oil and gas division with headquarters in Houston, Texas, consolidates all the sales and service activities for Cat oil and gas power solutions. Since the 1930s, Caterpillar has manufactured engines for the oilfield and today provides premier power solutions with outputs from 31 to 16,000 kW. The sales and service network includes more than 2,100 dealer locations world-wide dedicated to support customers in the drilling, production, well service and gas compression segments. More information is available at: http://www.catoilandgasinfo.com
ABOUT CATERPILLAR
For nearly 90 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. Customers turn to Caterpillar to help them develop infrastructure, energy and natural resource assets. With 2014 sales and revenues of $55.184 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company principally operates through its three product segments – Resource Industries, Construction Industries and Energy & Transportation – and also provides financing and related services through its Financial Products segment. For more information, visit caterpillar.com. To connect with us on social media, visit caterpillar.com/social-media.
More information is available at www.cat.com.
ABOUT GTUIT
GTUIT, LLC is an industry leader of field and well-site level natural gas processing and conditioning using mobile and modular equipment to offer maximum flexibility and to meet the requirements of energy producers. The firm is focused on providing innovative solutions, timely manufacturing, and industry leading service that creates value for its customers. For more information, visit www.GTUIT.com.
