ALDERSYDE, Alta. - Mullen Transportation continues to grow its oilfield services operations with the recent acquisitions of three more companies.The most recent acquisitions are expected to increase M...
ALDERSYDE, Alta. – Mullen Transportation continues to grow its oilfield services operations with the recent acquisitions of three more companies.
The most recent acquisitions are expected to increase Mullen’s revenues by about $80 million each year.
“Acquiring companies leveraged to the oil and gas industry has been a strategic focus of Mullen for several years,” says president Murray Mullen. “In particular, we believe that there are tremendous opportunities associated with the exploration and development of the vast heavy oil reserves in Western Canada.”
Lloydminster Heavy Crude Services (LHCS), Temor Oil Services and Dominion Rathole Drilling are the latest companies to be acquired by Mullen Transportation. That’s in addition to the recent acquisition of Kam’s Oilfield Hauling, which was just completed.
The LHCS acquisition includes 50 bulk crude oil trailers, 12 trucks and 35 owner/operator run trucks. The acquisition of Temor – the Lloydminster area’s largest transporter of crude oil – includes a fleet of more than 165 bulk crude oil trailers.
“The crude oil hauling business continues to grow as oil companies invest in the heavy oil industry,” says Mullen. “More importantly, by acquiring both LHCS and Temor, we can take maximum advantage of the synergies that accompany such transactions.”
The Dominion Rathole acquisition consists of six truck-mounted drill units, trailers and miscellaneous equipment, which will be operated under the name of McGinnis Rat Hole Drilling.
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