Halliburton to acquire production chemicals company Multi-Chem Group
07 Sep 2011
Halliburton, the world's second-largest oil field services company behind Schlumberger yesterday said that it would acquire Multi-Chem Group, North America's fourth-largest production chemicals company.
Founded in 1993, Multi-Chem is a leading provider of oilfield production and completion chemicals and services that takes care of production, processing and transportation of oil & gas.
The Texas-based company's products include salt, corrosion, and scale inhibitors; liquid foaming agents; H2S scavengers; corrosion control and scale control products; surfactants; paraffin products; emulsion breakers; defoamers; biocides; cleaners; and specialty products.
The company has provided chemicals and services to over 30,000 producing oil and natural gas wells across North America.
"Today's increasingly complicated reservoirs and their diverse, multi-phase flow regimes demand a comprehensive approach to production optimization.'' said Marc Edwards, senior vice president of Halliburton Completion and Production Division.
"Integrating fracture stimulation design with life-of-well chemistry solutions will enable our customers to optimize reservoir management and positively impact production decline curves,'' he added.
James Archer, president and CEO of Multi-Chem, said, ''The combination of Multi-Chem and Halliburton creates exciting possibilities for our customers and employees. There are tremendous opportunities to capitalize on Halliburton's deep customer relationships and international presence to accelerate Multi-Chem's growth."
Houston, Texas-based Halliburton did not reveal the financial terms of the transaction.