Prospect Capital buying some assets from Hastings

Prospect Capital buying Fluid Management Holdings, CP Well Testing from Hastings for $105M

Associated Press

BOSTON (AP) -- Prospect Capital is buying Fluid Management Holdings and CP Well Testing for about $105 million.

Fluid Management, which is based in Weatherford, Okla., provides water hauling, disposal and acid services for energy companies in the Texas Panhandle and Western Oklahoma. It operates under the names ProHaul Transports and Foster Testing.

CP Well Testing provides flowback and well testing services in support of energy companies in the Granite Wash, Permian and Cana-Woodford plays. The Granite Wash play runs through Texas, Oklahoma and Kansas. The Permian Basin is found in the western part of Texas and the southeastern part of New Mexico. The Cana-Woodford play is in Oklahoma.

Both of the companies were owned by Hastings Equity Partners

Shares of Prospect Capital Corp. shed 3 cents to $10.92 in afternoon trading.

View Comments