Simmons invests in Malaysia's Leap Energy

Financial details and ownership percentages were not disclosed. The investment will be used to accelerate growth of the company as well as support SPE's broader portfolio with operational expertise in mature field production optimization and predictive analytics for conventional and unconventional reservoirs.

The deal represents the first of several planned acquisitions targeting niche service lines including geophysics, drilling and well management, concept development, project development and operations support.

"We believe by putting a group together on these lines, we are addressing the fundamental requirement of industry to bring efficiency by project managing the interfaces of the various work-streams," Gerwyn Williams, Leap's incoming CEO said in a statement. "The new group's focus will be on late-life and brownfield projects where our customers want to get more value from their existing operations."

Established in 2008, Leap operates from bases in Malaysia, Australia and Europe, with representative offices in India, Indonesia and the Middle East. The company claims to have more than 80 clients, with 200 projects delivered by a staff of 50 employees. The existing management team will continue to lead the company alongside Williams.

SPE is a division of Simmons & Company International, the energy unit of investment bank Piper Jaffray. The firm has raised about GBP130 million ($159 million) for its second fund, which is targeting small to medium-sized companies with a buy-and-build strategy.

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