Oilfield services company Halliburton has completed the acquisition of electric submersible pump technology firm Summit ESP.
In a statement, the company said the purchase will allow the company to expand its artificial lift portfolio.
Halliburton’s president Jeff Miller said: “The acquisition of Summit expands Halliburton’s existing artificial lift capabilities and increases our overall leading position in North America oilfield services.
“Summit’s unrivaled service quality, proven technology and U.S. market leadership make it a perfect fit for Halliburton. This accretive transaction accelerates our strategy to deliver leading returns to our shareholders and maximize asset value for our customers.”
Summit provides integrated electric submersible and surface pumping systems to boost total reservoir recovery.
Recommended for you
