US: Argonaut Private Equity has acquired a well cement business following the bankruptcy of Texas-based BJ Services. The purchase retains 260 employees and procures company assets and equipment, including bulk plants and technical labs located in the field. No fracturing assets were acquired in the acquisition. It has rebranded the business as American Cementing.
“The addition of American Cementing to the Argonaut Private Equity portfolio combines our expertise in efficient operations management with our experience in the oil and gas industry,” said Steve Mitchell, Argonaut’s chief executive officer (CEO).
American Cementing services include laboratory testing, blending at the bulk plant and mixing and pumping operations at the wellsite. Additionally, the company offers acidising services and products that are intended to enhance production and remove well-bore damage to preserve well lifetime.