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Flint Provides Expansion of Oilfield Hauling Services

Source: www.gulfoilandgas.com 11/22/2010, Location: North America

Flint Energy Services Ltd.announced a US$36 million asset acquisition, including property and equipment in five locations in the United States; three in East Texas, one in Louisiana and one in Oklahoma.

This acquisition furthers the expansion of Flint's operations into the busy shale gas fields in the United States. Flint began with fluid hauling services in Vernal, Utah, and recently expanded into the Marcellus shale gas basin, moving under-utilized equipment from western Canada to its new Williamsport, Pennsylvania location. With the addition announced today of the five new locations, approximately 170 new employees and 450 pieces of equipment, Flint will become one of the largest oilfield haulers in the US shale basins. In addition, this new acquisition will provide equipment, personnel, and management for a new location that Flint is constructing in Williston, North Dakota, to provide oilfield hauling services in the active Bakken shale oil play in North Dakota. This brings the total to eight locations for Flint's US Oilfield Services business segment.

W. J. (Bill) Lingard, President and CEO of Flint said, "We are very excited about this expansion of our oilfield services capabilities into some of the busiest shale gas plays in the United States. Prior to 2010, we had very limited oilfield hauling operations in the United States, and this move, together with our earlier expansions, will make Flint a market leader, bringing our Company's reputation for safety and our commitment to execution excellence to this important service line."

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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