Mullen acquires oilfield company
ALDERSYDE, Alta. – Mullen Transportation has purchased all of the shares in the E-Can Oilfield Services Group of Companies, in a deal that closed Aug. 31.
E-Can, based in Elk Point, Alta., provides oilfield services to Western Canada’s heavy oil industry in the form of specialized equipment and personnel to assist in the pumping, hauling and disposal of fluids. The company has a fleet of 125 units including vacuum trucks, steam cleaning units, flush-by units and two coiled tubing units designed to service heavy oil wells.
“We like the prospects associated with heavy oil, particularly given the capital projects and drilling commitments announced by several major oil companies over the past year,” says Murray Mullen, president and chief executive officer of Mullen Transportation. “The company meets all the standards we look for in an acquisition of this nature, including superior profitability and an outstanding safety performance.” n
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