Page 14 - NorthAmOil Week 10 2021

NorthAmOil NEWS IN BRIEF NorthAmOil

an all-stock transaction. Upon the closing
of the transaction, Expro shareholders will
own approximately 65% of the combined
entity, with Frank’s shareholders owning
approximately 35%.
The combination brings together
two companies with decades of market
leadership, best-in-class safety and service
quality performance, exceptional talent and
global capabilities in well construction, well
flow management, subsea well access, well
intervention and production services. With
a broad range of complementary, highly
specialized equipment and services, the
combined company will provide customers
with cost-effective, innovative solutions across
Lake Métis Group CEO, Justin Bourque. year decommissioning operation in the Gulf the well lifecycle, driving a stable, diverse
Adding, “Access to a well maintained, high of Mexico. revenue mix. The combined company will
quality fleet, such as Apex Well Servicing’s, Stewart Mitchell, Sparrows CEO, said: have a strong, debt-free balance sheet, robust
creates increased opportunity and supports “This contract is an indication of the high- order backlog, more than $1bn of pro forma
our mission of becoming the industries quality work our experienced personnel annual revenue as well as an ability to generate
strategic Indigenous industry partner of consistently deliver and of the strong through-cycle free cash flow and growth.
choice.” relationship we have built with this operator EXPRO GROUP AND FRANK’S INTERNATIONAL,
Apex Well Servicing Inc. provides services in the US. We have a clear understanding March 11, 2021
to the oil and gas industry in Alberta and of the organisation’s requirements and our
Western Canada. Their full range of service specialist teams are ideally suited to support Innovex Downhole
equipment includes service rigs, rod rigs, hot across the variety of reliable crane types and
oilers, pressure pumping and super heaters. assets involved.” Solutions completes
The Apex fleet is well maintained, and The contract follows Sparrows’ recent
purpose built to suit industry needs. success in the US industrial market, including acquisition of Rubicon
WILLOW LAKE MÉTIS GROUP AND APEX WELL securing service centre status and distributor
SERVICING, March 11, 2021 agreements with key equipment specialists Oilfield International,
such as Dana Brevini and SKF. In the last 12
Sparrows Group secures months, the company has delivered several establishing leading
contracts across automotive plants, salt mines
five-year US deal with and paper mills. independent global provider
“The US has been a key focus for us as
major operator our robust growth strategy incorporates of high value oilfield
the oil and gas market as well as industrial
Sparrows Group, the engineering and and renewables. Safety critical equipment is products and technical
maintenance services specialist for the global essential to the ongoing safe operation of any
energy and industrial sectors, has secured a asset and as the US begins to ramp up activity services
new five-year contract with a major oil and across the energy and industrial sectors, we
gas operator to deliver crane services for seven recognise the importance of maintaining Innovex Downhole Solutions announced
of its onshore and offshore assets in North continuous operations.” today that it has completed the previously
America, accelerating the business’ growth SPARROWS GROUP, March 10, 2021 announced acquisition of Rubicon Oilfield
trajectory in the US. International – further solidifying Innovex as
The seven-figure deal will see Sparrows’ Expro and Frank’s to an industry leading independent well-centric
Houston team deliver crane inspection, products and technology company.
maintenance, testing and repair services at combine to create a leading The business will continue to be led by
two onshore facilities and a platform in the Adam Anderson, CEO of Innovex.
Gulf of Mexico. In addition, the contract full-cycle service provider “I am pleased to confirm that the
encompasses an onshore processing facility transaction has now closed, and we are
project and three offshore assets in California. Expro Group, a privately-held international looking forward to combining the dynamic
The company will deliver services across a energy services company with market US operations of Innovex with the broad
wide range of crane types including pedestal, leadership in well access and well flow international strength of Rubicon to deliver
kingpost, mobile, overhead, davit, monorail, optimisation, and Frank’s International, a greater value to our customers with our
and gantry cranes. global oil services company that provides expanded technology portfolio spanning
The project marks another milestone on a broad range of highly engineered drilling drilling, well construction, completion,
Sparrows’ long history with the operator, and completions solutions and services, production, fishing and intervention”, said
which saw the company most recently deliver today announced a definitive agreement Anderson. “Today represents an important
a rental crane to support the operator’s three- under which the companies will combine in milestone for the employees and other

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