PNC Bank has closed a USD33 million of senior secured credit facility for Motley Services (Motley), a portfolio company of Irving, Texas-based District 5 Investments.
Headquartered in Odessa, TX, Motley will use the funds for capital expenditures and ongoing working capital needs. PNC Bank served as administrative agent. Treasury management products and services also were included in this transaction.
Founded in 2010 by CEO Marco Davis, Motley is an oilfield service company that provides well completion and intervention services in the Permian Basin region of Texas and New Mexico. Motley offers coiled tubing, wireline, pumping, thru tubing and nitrogen services and maintains a state-of-the-art equipment fleet.
