Atlas Copco buys U.S. oil and gas service business
Operational assets of Archer Underbalanced Services purchased
Atlas Copco has purchased the operational assets of Archer Underbalanced Services, a leading service provider of down-the-hole hammers, drill bits and compressed air packages to U.S. land-based oil and gas drilling companies.
Archer Underbalanced, a part of Archer Well Services, based in Houston, Texas, had sales in 2012 of $34 million (MSEK 230). The acquired assets include five service locations near major oil and gas reserves, and a drill bit manufacturing facility in Carlsbad, New Mexico. A total of 75 Archer Underbalanced employees is expected to transition to Atlas Copco.
“We are very pleased with this acquisition as it greatly enhances our distribution and support presence in the U.S. land-based oil and gas drilling industry,” said Johan Halling, Business Area President, Atlas Copco Mining and Rock Excavation Technique. “This creates opportunities for adding several complementary Atlas Copco product lines in the future, such as state-of-the-art compressed air solutions, through this new distribution channel.”
"We see this as an excellent long-term business opportunity in the U.S. oil and gas sectors. The acquisition brings in additional people with extensive industry knowledge and talent to Atlas Copco, which adds further value and benefits to our customers," said Torbjorn Redaelli, President and General Manager, Atlas Copco CMT USA.
The acquired business will become part of Atlas Copco’s Mining and Rock Excavation Technique business area.
About the Author
Torbjorn Redaelli is the President and General Manager of Atlas Copco Construction Mining Technique USA LLC.