Following this acquisition, the company will continue to operate independently under the name AMIK Oilfield Equipment & Rentals.
The acquisition of IAL provides Flotek with complete control over the manufacturing and service quality of a next-generation, proprietary design in the rapidly expanding hydraulic pumping units market.
The OrBIT drillbits are designed to perform completion and workover activities in a more efficient and cost effective manner.
Dhatec's estimated revenue in 2014 is approximately US$25 million.
The transaction was made for cash consideration of approximately $850 million and after-tax proceeds of approximately $600 million.
These transactions bring Weatherford's total realized cash divestiture proceeds to over $1.7 billion for 2014.
Terms of the transaction were not disclosed.
Tervita has operations that span the Bakken, Permian and Eagle Ford basins.
Houston-based C&J wants the Delaware Supreme Court to overrule a finding that executives didn’t properly shop around for bids.
The technology is ideally suited for complex subsea processing applications and more difficult extraction environments.
The deal is the second announced by Buffett’s company this month in the energy industry.
The acquisition increases FTSI’s wireline capacity more than tenfold.
|Mid||USD 18000||Members only||Regency Energy Partners LP|
|Mid||USD 3000||Members only||Hiland Partners LP|
|E&P||USD 37.4||Members only||Harvey E. Yates Co.|
|S&S||USD 1700||Members only||Eurasia Drilling Co. Ltd.|