Diamond Castle Holdings LLC has invested in Professional Directional Enterprises Inc., a large independent provider of directional and horizontal drilling services to oil and natural gas exploration and production companies.

"We are strong believers in the long-term growth in production of oil and natural gas from unconventional oil and natural gas fields in the US, and the services that Professional Directional provides are a critical part of extracting those reserves," said Lee Wright, a senior managing director for Diamond Castle.

Karen O'Neal, president of Professional Directional, added "Diamond Castle's financial resources and energy expertise made them an attractive partner for Professional Directional. We are focused on growing our business in terms of people and equipment in order to continue to provide the high level of service that our customers expect and deserve from us."

Diamond Castle Holdings, LLC is a private equity firm with over $1.85 billion of committed capital under management. Founded in 2004, Diamond Castle specializes in leveraged buyouts, growth capital and equity-like investments in both public and private companies. Diamond Castle targets investments in the following industry sectors: media and communications, energy and power, financial services, healthcare and diversified industries. 

Conroe, Tex.-based Professional Directional Enterprises Inc., established in 2001, serves a growing number of E&P companies focused on onshore, unconventional reserves. The company has completed wells in unconventional formations in the US, including the Haynesville, Marcellus, Bakken, Woodford, Eagle Ford, Barnett, Niobrara and Cotton Valley plays. 

Source:  Diamond Castle Holdings LLC