Deal

Energy Ventures III exits NovaDrill

Energy Ventures III LP has sold Utah-based NovaDrill to an unnamed strategic buyer.  

NovaDrill, established in August 2008, has developed an advanced downhole drilling technology that provides a complete directional drilling and formation evaluation system. NovaDrill's system can substantially improve drilling efficiency and well productivity

The sale marks Energy Ventures´second successful exit in the last six months and the fund manager´s eighth over the last seven years.

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FundEnergy Ventures III Argentum share 6%
Portfolio CompanyNovaDrill
Date of Transaction2010-01-27
TransactionTrade-sale
Seller
BuyerUnknown
Size of Transaction 
Ind. FocusEnergy
GeographyUSA
StageVenture
 

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Ownership

 
6%
Energy Ventures III
 
NovaDrill
 
 

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Calendar

2010-09-08 in Zurich

European Energy Venture Fair

2010-09-23 in Stockholm

The Argentum Private Equity Conference

2010-09-24 in Stockholm

The Argentum Symposium 2010

2010-09-30 in Oslo

NVCA Høsttreff 2010

2010-10-06 in Aberdeen

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