Calfrac Well Services has agreed to acquire Eagle Ford service company Mission Well Services for $147 million.
Mission Well Services is a privately held hydraulic fracturing and coiled tubing service provider in Texas. With the acquisition, Calfrac gains locations in Fairfield, Houston, and San Antonio.
“Mission provides a platform for Calfrac to enter the Eagle Ford shale region and to assess opportunities in other basins in Texas, while adding high quality fracturing and coiled tubing equipment to other Calfrac operating areas.”
The deal includes:
- 157,500 of conventional pumping horsepower
- High rate blenders
- Sand handling equipment
- Three deep capacity coiled tubing units with related fluid and nitrogen pumping units
- Modern office and yard in San Antonio, TX
Charlie Leykum, Chairman of Mission, stated "We think the transaction is an exciting development for our team at Mission and it is the culmination of three years of hard work, from inception as a greenfield development to a thriving, multi-district pressure pumping company. We look forward to introducing Calfrac to our customers and vendors in the Eagle Ford and surrounding markets."
Calfrac is based in Calgary, Canada, and has operations in Canada, the U.S., South America, and Russia. The acquisition brings the company's total pumping capacity up to 1,181,500 horsepower.
Read the full press release at calfrac.com