Secure Energy acquires production chemical business for $29.8M
The oilfield services firm has bought the Canadian division of a production chemical company from an unnamed U.S. multinational, which brings with it multiple facilities and oilfield chemical services
CALGARY—Oilfield services firm Secure Energy Services Inc. has acquired the Canadian division of a production chemical business from an undisclosed U.S.-based multinational for $29.8 million.
The acquired asset brings with it a blending facility, warehousing and yard space in Red Deer, Alta.; along with a research lab in Edmonton; and 16 sales distribution points throughout Western Canada.
This business will be integrated into Secure’s Drilling and Production Services division, and it will provide flow assurance, asset integrity, production optimization, and fracturing and stimulation products.
Secure will also be bringing on 88 of the acquired firm’s employees.
“We are very excited to increase our presence in the production chemicals market, including bringing on a highly-qualified group of experienced and dedicated employees,” said Rene Amirault, chairman and CEO of Secure.
The deal is subject to post-closing adjustments.