Canadian Energy Services and Technology Corp. buys Texas company
The acquisition accelerates the expansion of CES's U.S. production and specialty chemicals operations into the west Texas Permian Basin and the Eagle Ford shale
CALGARY—Canadian Energy Services and Technology Corp. (CES) has signed a deal to buy U.S. speciality chemical company Southwest Treating Products LLC.
Financial terms of the deal were not immediately available, but the company said it would pay a combination of cash and shares escrowed over a three-year period.
The Calgary-based resource services company has eight divisions in Canada and the U.S. and focuses on drilling fluids for the oil and natural gas sectors as well as providing specialty chemicals used in hydraulic fracturing (fracking).
The acquisition of Southwest will accelerate the expansion of the company’s U.S. production and specialty chemicals operations into the west Texas Permian Basin and the Eagle Ford shale in south Texas, through its Jacam Chemicals subsidiary.
CES will add Southwest’s blending and distribution facility located in Sonora, Texas, as well as three other Texas stock points. CES will also add Southwest’s key field, technical and sales focused employees, expanding JACAM’s capabilities to effectively reach and service customers into Texas.
Headquartered in Sonora Texas, Southwest is a west Texas-based private production and specialty chemical company that provides tracking chemical solutions for a number of leading oil and natural gas companies.