Cimarron, Keane Group expand into Bakken through acquisition

By The Bakken Magazine Staff | March 02, 2016

Cimarron Energy, the Oklahoma-based oilfield equipment provider, believes strongly in the oil and gas industry, said Jeff Wilson, director of business development. Following its acquisition of Diverse Energy Systems, Wilson also said it is clear his company will put its money where its mouth is. For an undisclosed amount, Cimarron has attained the Texas and North Dakota field and manufacturing assets of Diverse, the same company that expanded into the Bakken roughly four years ago.

“For the Bakken producer, it brings a lot larger production and design experience to operators in North Dakota,” Wilson said of Cimarron’s acquisition. Diverse has an oilfield tank manufacturing facility outside of the Bakken in Grafton, North Dakota. Diverse built a large manufacturing facility in the eastern North Dakota town while also refurbishing existing homes to house facility workforce. Cimarron will now be able to offer production, processing, measurement/custody/transfer, vapor handling, artificial lift and rental equipment to Bakken clients.

Cimarron also serves the Marcellus, Utica, Permian, Eagle Ford and other plays in the Rockies. In the Bakken, Cimarron will expand its field services, Wilson said. “It’s one thing to make the product,” he said, “and it’s another to have boots on the ground to help the user.”

Keane Group, a U.S.-based completion company, has also made an acquisition that will expand its footprint in the Bakken. For $247 million, Keane has acquired all of the U.S. assets of Canada-based Trican Well Services. Through the acquisition, Keane has tripled its pressure pumping capacity and added the ability to perform cementing and coiled-tubing services, two popular completion techniques used in the Bakken.

Dale Dusterhoft, CEO for Trican, said Keane will now look to scale-up in the U.S., focusing mainly on the Permian, Bakken and Marcellus. “The intent going forward is that these will be the focus areas of the company,” he said.