Richardson International acquires drilling fluids maker Control Chemical
by CM Staff
Control Chemical’s drilling fluid systems and proprietary vegetable oil lubricants are commonly used in diamond drilling, horizontal directional drilling and rotary and percussive drilling operations.
Richardson International Ltd., said to be Canada’s largest agribusiness, has acquired Control Chemical Corp., a specialized manufacturer of environmentally safe drilling fluids and proprietary vegetable oil-based lubricants.
Prior to this acquisition, Winnipeg-based Richardson was a minority shareholder in Control Chemical and has supplied raw ingredients for their products for over 30 years.
“This partnership will be beneficial to both companies, as historically speaking, Richardson is our largest supplier of crude canola oil,” said John MacPhail, retiring principal, Control Chemical. “With petroleum oil prices increasing, we are in a unique position to reach new and more expansive markets for environmentally safe downhole, torque-reducing lubricants.”
Control Chemical manufactures all drilling fluids – some of which are proprietary and marketed under the Matex brand name – from its 50,000-square foot facility in Calgary. The company has a network of distribution partners in North America, South America, Australia, Africa, South East Asia, Mongolia, Scandinavia, the United Kingdom, Turkey, and Russia.
Richardson’s oilseed crush plant in Lethbridge, Alta., will continue to supply crude canola oil stock for Control Chemical products.
Matex brand products include downhole lubricants, specialty polymers, foams, tool lubricants, blast hole stabilizers, thread compounds, and non-alcohol freeze control fluids. They are used in diamond drilling, horizontal directional drilling and rotary and percussive drilling operations.