COMPETITION WATCH: Mullen Group takes in Polaris Petroleum

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OKOTOKS, Alta. — Mullen Group has announced it closed a deal Sept. 1 to acquire fluid hauler Polaris Petroleum.

The Drayton Valley-based company provides drilling and production fluid services to oil and gas companies operating in the Cardium resource play.

Mullen said the acquisition will bring $22 million in consolidated revenues to the company. Polaris will be operated as a standalone business unit, Mullen announced.

“Acquiring businesses leveraged to fluid hauling and the production services segment of the oil and gas industry has been and continues to be a strategic focus of the Mullen Group,” said Stephen Lockwood, president and CEO of Mullen Group. “The addition of Polaris to our production services operations expands Mullen Group’s geographic coverage into the heart of the Cardium play, an area in which our oil and gas customers continue to invest. We are also pleased that the owners of Polaris, Monte and Cindy Waronek, have agreed to stay on and run the day-to-day operations of Polaris.”

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