Economy & Market

Trican Well acquires Viking

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Trican Well Services has acquired Brisbane-based Viking Energy a privately owned cementing and environmental services company in Queensland, Australia to tap into the region’s growing unconventional gas industry. With this acquisition Trican Well Services has gained a foothold into the growing Australian market. Trican Well Services a pressure pumping company, which holds the largest Canadian market share in cementing and coil tubing services, said the deal will accelerate Trican’s entry into the Australian and regional markets. Under the deal Trican bought 100 per cent of Viking’s shares and units through its wholly owned Australian subsidiary. Viking operates four cement pumpers, along with associated ancillary equipment and fluid logistics equipment from Roma, Queensland. "Management believes Trican’s technical expertise and focus on operational excellence combined with Viking’s extensive knowledge of this market should provide the company with compelling growth prospects in the future," Trican said in a statement.

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