CALGARY, (Mar. 3, 2005) — Two Grande Prairie, Alta.-based oilfield carriers have been acquired by Producers Oilfield Services Inc. for approximately $190 million — making the company one the largest providers of oilfield services to the oil and gas industry in Western Canada.

Producers Oilfield Services has agreed to purchase the business and assets of H.L. Powell Trucking Ltd. and Swanberg Bros. Trucking, which recently came in at 100 on Today’s Trucking’s 2005 Top 100 For-Hire Carrier List. The deals are expected to close in about three months.

Swanberg Bros., which has 144 tractors and 291 trailers, is one of the largest transporters of drilling rigs in Western Canada. It also provides related oilfield services in Northern Alberta, Northern B.C. and the Northwest Territories.

“Swanberg provides Producers with the opportunity to expand our transportation sector to offer “One Stop Shopping” to our oil and gas customers,” said Ric Peterson, Producers Oilfield president and CEO.

Family-run H.L. Powell has been transporting and warehousing oilfield fluids, drilling mud, and other equipment since 1950. It has facilities in Red Deer, Alta. as well as Kindersley, Sask. and Fort St. John, B.C.

“H.L. Powell provides Producers with another strong operating business and a platform for growth. Secondly, they provide Producers with the opportunity to realize many synergies with our existing businesses and the ability to enhance and improve customer service,” Peterson added in a press release.

Pat Powell, owner of H.L. Powell, and Swanberg owner Dean Swanberg have agreed to remain in their current capacities with their respective
companies until closing, at which time they will also assume senior executive roles in Producers.

Producers Oilfield, which is chaired by Mullen Transportation President and CEO Murray Mullen, is an energy services company whose operating subsidiaries provides trucking, disposal and other services to oil and gas producers. The company’s oilfield construction and maintenance operations account for half of its total revenue.

Formerly known as Moveitonline, the company treats oilfield waste including used production and drilling fluids through its Producers Disposal Services subsidiary. Through its Patch Point Enterprises subsidiary, the company provides construction, trucking, and pipefitting operations. Through its Ironlink unit, Producers Oilfield Services provides customers with its Moveitonline product — a computer-based application used to track and report waste disposal activity.