Bakken, Permian production team gains new capital from Tower Arch

By Tower Arch Capital | December 10, 2019

Tower Arch Capital has recapitalized Creedence Energy Services LLC in partnership with its founders, Kevin, Wyatt and Malachi Black.

Founded in 2014 and headquartered in Minot, ND, with operations in Williston, ND, and Odessa, TX, Creedence Energy Services provides production chemicals, acidizing services, and other custom solutions for scale and corrosion prevention to leading oil and gas providers in the Bakken and Permian basins.

Kevin Black, President, said, "Creedence has quickly grown to become a leading player in production chemicals and services in the Bakken. We have consistently found that once a customer utilizes our differentiated chemistry and experiences our superior service, they see the value and give us increasingly more opportunities to grow alongside them. Our team is committed to providing the best possible service and solutions to our customers, and we are fortunate to have them as part of the Creedence organization. We're proud of our growth thus far and look forward to our partnership with Tower Arch Capital as we grow throughout North Dakota and further expand our presence in Texas and other basins to support our current and future customers."

Ryan Stratton, a Partner at Tower Arch Capital, added, "We are thrilled to partner with Kevin Black, Wyatt Black, Malachi Black and their team. Creedence's proactive customer service and customized chemistry has created value for its customers by improving production, reducing costly well failures, and optimizing operational efficiency. This next chapter of growth will be very exciting as we support and invest in Creedence to enhance their service offerings and geographic reach while retaining their exceptional customer relations."

Founded in 2014, Creedence is a leading provider of oilfield production chemicals, acidizing, and other oil field services in the Bakken and Permian basins. The company services oil wells and saltwater disposal wells throughout their lifecycle, providing a comprehensive chemical solution.