KUALA LUMPUR, Sept 17 (Bernama) -- SCF Partners Inc (SCF) has acquired the Newpark Fluids Systems business (NFS), a global pure-play oil and gas and geothermal fluids solution provider, from Newpark Resources Inc.
NFS provides a full range of drilling and completion products, and related technical services supported by an innovative digital modelling software suite, global supply chain and infrastructure to enhance the efficiency and productivity of its customers’ performance.
SCF Partners Director, Deviyani Misra-Godwin said for over 25 years, NFS has maintained a leading position in the drilling and completions fluids space worldwide, improving customer performance by providing industry-leading service quality.
“NFS’ global footprint, top quartile safety performance, leading portfolio of technology and preeminent position in the growing geothermal space will accelerate success in the evolving energy landscape.
“Together with the leadership team, we look forward to creating tremendous value for our customers and employees in this next chapter of growth,” she said in a statement.
Meanwhile NFS Chief Executive Officer, David Paterson said: “Our global strategic growth plan will now accelerate under a new and focused board with significant energy experience and commitment. SCF’s unsurpassed track record of success in the global energy services industry provides exciting opportunities as we look to the future.”
Vinson & Elkins LLP acted as legal advisor to SCF in the transaction.
Founded in 1989, SCF is headquartered in Houston, Texas, and has invested in over 80 platform companies and made more than 400 additional acquisitions to develop 18 publicly listed energy service and equipment companies over its history.
-- BERNAMA
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