Clariant Acquires Canadian Oil Services Firm Prairie Petro-Chem, Expanding North American Presence
Prairie Petro-Chem serves more than 7,000 oilfield sites and holds significant share of the southern Saskatchewan/southern Manitoba market
Clariant has acquired Saskatchewan, Canada-based oil services company Prairie Petro-Chem and will integrate it into the Clariant Oil Services business. The transaction significantly enhances Clariant’s presence in the important Bakken Shale, an area positioned to be the number one oil and gas producing region in North America. Terms of the agreement were not disclosed.
Prairie Petro-Chem, originally formed in 1969 and headquartered in Estevan, SK, operates locations in Weyburn and Oxbow, Saskatchewan, and in Virden, Manitoba. The company serves approximately 7,000 oilfield sites, representing more than 50% of the southern Saskatchewan and southern Manitoba market. Prairie Petro-Chem continued its steady growth pattern in 2010, achieving sales of approximately CAD$30 million.
“Prairie Petro-Chem has an exemplary reputation and market leadership position based on more than 30 years of continuous operation in this important region. This acquisition strengthens Clariant Oil Services’ position as a top-tier global provider of production chemicals and services and greatly enhances our capabilities within North America," said Christopher Oversby, global head of Clariant’s Oil & Mining Services business unit.
Brent Frehlick, General Manager of Prairie Petro-Chem, said, “We are looking forward to working with Clariant to capitalize on the additional opportunities created by the combination of our collective strengths. As a Clariant company, our expanded geographic and strategic position will provide the ability to more effectively serve existing customers in other markets. In addition, our shared commitment to service excellence and our complementary solution-driven products will ensure we continue to provide our customers with the level of service they have come to expect.”
Brent Frehlick, General Manager of Prairie Petro-Chem, and Assistant General Manager Blane Fichter will join Clariant as a result of the transaction.
Other news from the department business & finance
