Lucid Energy Group
Lucid Energy Group averted a supply chain bottleneck by leveraging Parq’s platform and 50,000+ supplier network.

Acquisition!

The client was able to meet their customers’ project deadlines, shift more than $2MM of revenue into the current quarter, and ultimately divest the business to a large acquirer.

$3.5MM

in CAPEX savings

Lucid Energy leveraged Parq’s 50,000+ supplier network across this large project, identifying more than $3.5MM in CAPEX savings and 5+ weeks of lead-time.

About the Company

Company Description: LUCID ENERGY GROUP is a midstream services company providing gathering, treating, processing, compression and transportation services to producers working in the Permian Basin. LUCID has developed and is continuing to expand its greenfield gathering and processing facilities in the high-growth production areas of the Wolfcamp and Clines shales.

Size of Company:

$3.5BN Enterprise Value

Industry:

Energy

The Problem

Lucid Energy Group was looking to save significant CAPEX on a large project, and reduce lead times in order to meet their customer’s needs. They also identified a major bottleneck in their supply chain which stemmed from their procurement team not having access to back-up vendors. As a solution, Parq’s main initiative was to help find additional qualified suppliers that could support new territory facility build-out, remove bottlenecks, and reinstate efficiencies within the Lucid supply chain.

Solution & Implementation

As a result of Parq’s services and platform implementation, Lucid Energy was able to leverage our network of 50,000+ suppliers for their large project, thus identifying more than $3.5MM in CAPEX savings and regaining 5+ weeks of lead-time.

Receive the latest in supply chain and procurement right to your desk.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.