Air Liquide Industrial U.S. LP has acquired Progressive Resources, Inc (PRI), an OK-based oilfield services company, in a move that reflects the company’s objectives in the oil services market.
Currently in North America, Air Liquide supplies nitrogen and carbon dioxide to oil and gas producers and well services companies.
The PRI acquisition is the latest in Air Liquide’s growing efforts to enhance service offerings to oil and gas customers, and follows its recently announced plans to build a plant in northwest North Dakota to serve oil and gas customers in the region.
PRI is a key supplier of liquid nitrogen and cryogenic storage and distribution systems and related services to the oil and gas services sector. The company primarily serves oil and gas service companies that have significant sourcing and logistical needs.
Bulk liquid nitrogen is provided by PRI to customers for a variety of oil and gas well site applications that include well stimulation, pressure testing, drill stem testing, coil tubing operations, and cleaning and jetting.
Mark Lostak, president of Air Liquide Industrial U.S. LP, said of the deal, “The PRI acquisition is a reflection of Air Liquide’s continued commitment to growth, particularly in the US industrial merchant and oil field services markets. We welcome our new employees and look forward to building upon PRI’s significant breadth and experience in oil field services.”
“As a major supplier of industrial gases to the oil and gas services sector, acquiring PRI further expands our commitment to providing customers with the highest quality of products and services in a safe, cost-effective manner.”