Halliburton Buys Summit ESP to Strengthen Artificial Lift Business: Reuters
Oilfield services provider Halliburton Co. said on Wednesday it would buy oilfield equipment supplier Summit ESP Inc, which is backed by Oklahoma energy and banking billionaire George Kaiser.
Tulsa, Oklahoma-based Summit ESP makes pumps used to maintain well pressure to increase oil and gas production in aging wells. The devices, components in a business called artificial lift, increasingly are being used to prolong the life of shale wells, Reuters reports.
Financial terms of the deal were not disclosed.
Copyright July 05, 2017, Mike Shiloh, Texas Energy Report LLC, www.texasenergyreport.com, All rights are reserved