Prospect Capital Issues $94M for Recap of CP Energy Services

Prospect Capital Corporation PSEC ("Prospect") announced today that Prospect has provided $94.0 million in senior secured loans and equity for the recapitalization of CP Energy Services, Inc. ("CP Energy"), an energy services company based in western Oklahoma. CP Energy consists of CP Well Testing, Inc. ("CP Well"), a leading provider of flowback services, and Fluid Management Holdings, Inc. ("Fluid Management"), a premier operator of transport trucks and disposal wells. Both companies operate in the Anadarko basin of western Oklahoma and Texas. Senior managers of CP Well and Fluid Management made significant co-investments in CP Energy.