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Classified in: Oil industry, Business
Subject: CXP

GATE Energy Setup for Growth & Success, Inks Deal with Prosperity Bank

HOUSTON, Nov. 19, 2019 /PRNewswire/ -- GATE Energy announces the strategic expansion of its credit facility with Prosperity Bank. This demonstrates Prosperity's confidence with GATE Energy's performance and future growth. As part of this partnership, GATE Energy has access to additional capital that will fund organic growth and strategic acquisitions.

GATE Energy is a family of companies providing project management and engineering, commissioning, field services, and staffing to the energy industry. With a novel 'systems-approach' to providing solutions to their Clients, GATE's 'Make It Work Right The First Time' philosophy has created strong partnerships with their Clients and has recently led to GATE being identified as the Zweig Group #1 Hot Firm in North America for the second year in succession.

Chase Zalman, President of Prosperity Bank, said, "We are definitely excited to be associated with a strong and healthy company such as GATE Energy who showed vision and growth out of the downturn. With a seasoned management team, strong backlog, and solid performance, they are setup for growth and success."

Raymond Turner, CFO of GATE Energy, said, "The macroeconomic picture of deepwater and FID's from our clients signals strong growth ahead and investments in our operations. This is a testament to our engineering, commissioning, and specialty field services teams that have consistently demonstrated project and financial success. GATE Energy continues to deliver results to our clients and shareholders, as it has in the past."

About GATE Energy

GATE Energy is a family of companies that provide scalable, fit-for-purpose services for the energy sector including engineering, commissioning, and specialty field services.

For more information on GATE Energy, visit www.gate.energy


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News published on 19 november 2019 at 13:17 and distributed by: