Clariant acquires Canadian oil firm Prairie Petro-Chem

01 April 2011 11:06  [Source: ICIS news]

LONDON (ICIS)--Clariant has acquired Canada-based oil services firm, Prairie Petro-Chem, for an undisclosed amount, the Swiss company said on Friday.

Clariant said the acquisition will enhance its presence in the Bakken Shale, in North America, an area known to hold big deposits of oil and gas.

Terms of the agreement were not disclosed.

“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.

Prairie Petro-Chem operates locations in Weyburn and Oxbow, Saskatchewan, and in Virden, Manitoba, and serves approximately 7,000 oilfield sites, representing more than 50% of the southern Saskatchewan and southern Manitoba market.

In 2010, Prairie Petro-Chem achieved sales of approximately Canadian dollar (C$) 30m ($31m, €22m).

($1 = C$0.97, $1 = C$1.38)

By: Tanzeel Akhtar
+44 208 652 3214

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