CHICAGO MRC Global Inc.
has agreed to acquire energy services firm Production Specialty
Services Inc., the company said Friday.
Midland, Texas-based Production
Specialty Services, which supplies pipe, valves and other
products to the oil and gas industry, will boost MRCs
presence in the Permian Basin, one of the most active
oil-drilling regions in the United States, MRC said. The terms
of the deal were not disclosed.
Houston-based MRC said it will
now have 23 branches and one major distribution center in the
Permian Basin region, where more than 425 rigs operate.
The Permian Basin, which
underlies much of west Texas and parts of southeastern New
Mexico, has long been a source of oil in a region that accounts
for most of the drilling activity in the United States. The
Eagle Ford shale, which also contains oil, is located in
"This acquisition is part of
MRCs continued commitment to support our customers
growth in a major oil-producing region of the U.S.," MRC
chairman, president and chief executive officer Andrew Lane
said in a statement.
Production Specialty Services
president Ronnie Crossland said the merger would allow the
company to provide service to customers in the Permian Basin as
well as in the Eagle Ford shale with a greater depth of
products and services.
MRC said Crossland would be
joining its regional management team.