OKOTOKS, Alta. – The Mullen Group recently announced a number of transactions that the company says will expand its fluid handling and hauling capacity in northern Alberta and northeastern British Columbia.

Mullen closed the acquisition of Radium Industrial Solutions GP in November, a fluid hauler based in Grande Prairie. This business is being operated as part of Cascade Energy Services L.P.

The western Canadian truckload and oilfield giant also agreed acquire Panda Tank & Vac Truck Services Inc. ("Panda") a fluid hauler, also based in Grande Prairie.

Panda will be operated as a stand-alone business unit and will strengthen Mullen’s market presence in and around Grande Prairie, Fort St. John and Dawson Creek, while also expanding Mullen Group’s geographic reach into Grande Cache.

As well, Mullen has entered into a letter of intent to acquire additional fluid hauling assets from an undisclosed private company based in northern Alberta, which is expected to close in early January, 2011.

Once completed, the three acquisitions are expected to increase Mullen Group’s annual consolidated revenues by about $42 million.

"Acquiring businesses leveraged to fluid hauling and the production services segment of the oil and gas industry has been a strategic focus of the Mullen Group for several years," stated Murray Mullen, Chairman and CEO. "New drilling techniques and multi-stage fracturing are creating new opportunities associated with the development of resource plays throughout North America."

Added Steve Lockwood, President and Co-CEO:

"The addition of these three businesses to our fluid hauling operations not only expands the geographic coverage we can provide to our customers, it provides us with an opportunity to leverage our existing infrastructure to achieve economies of scale."