Air Liquide acquires US oilfield services firm

03 January 2013 23:32  [Source: ICIS news]

HOUSTON (ICIS)--Air Liquide has acquired Progressive Resources, a company that supplies liquid nitrogen to oil and gas services firms, the France-based company said on Thursday.

Financial terms were not disclosed.

The oil and gas industry uses bulk liquid nitrogen for well stimulation, pressure testing, drill stem testing, coil tubing operations and cleaning and jetting, Air Liquide said.

Progressive Resources serves customers through five centres in Elk City, Oklahoma; McAlester, Oklahoma; Kilgore, Texas; Conway, Arkansas; and Paintsville, Kentucky.

The acquisition is part of Air Liquide's larger strategy of expanding into the oil and gas industry.

Air Liquide already supplies nitrogen and carbon dioxide to the sector, and it plans to build a plant in northwest North Dakota so it can serve energy producers there, the company said.

By: Al Greenwood
+1 713 525 2645

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