COMPETITION WATCH: Mullen Group partners to develop oil and gas fields in Northwest Territories
September 27, 2012
OKOTOKS, Alta. -- Mullen Group has entered into a Memorandum of Understanding with two northern business partners to provide oilfield services, transportation and logistics services in the Sahtu Settlement Area of the Northwest Territories.
OKOTOKS, Alta. — Mullen Group has entered into a Memorandum of Understanding with two northern business partners to provide oilfield services, transportation and logistics services in the Sahtu Settlement Area of the Northwest Territories.
Its partners include HCI Holdings and Red Dog Mtn. Contracting. The companies have agreed to jointly develop oil and gas fields in the region over the next number of years.
The MOU has resulted in the formation of Canol Oilfield Services, which will operate as a standalone company, with Mullen being a 45% stakeholder, the companies announced.
“We are very pleased to announce this new business opportunity,” said Murray Mullen, chairman and CEO of Mullen Group. “As many know we have worked closely with aboriginal partners in Northern Canada for many years and the commitments and investments we have made in the communities in the north have positioned us as a key partner in the development of the oil and gas sector in Northern Canada for years to come. Specifically, we are excited to be working with David Hodgson from HCI Holdings and Eddy McPherson from Red Dog as they bring a tremendous amount of knowledge and expertise to this new business arrangement. We are also very pleased that we have been able to coordinate the timing of this important announcement with the Sahtu Exploration Readiness Session that was held this week in Norman Wells.”
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