American Oil and Gas Reporter - June 2020 - 69

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IndustryFocus: Companies, People and Products
KLX, Quintana Combine To Offer Broad Portfolio
HOUSTON-KLX Energy Services
Holdings Inc. and Quintana Energy Services Inc. report they have agreed to combine through an all-stock merger.
The companies say the combined enterprise will have an industry-leading offering
in all major U.S. onshore basins, with more
than $1 billion of pro forma fiscal year
2019 revenue and $106 million in fiscal
year 2019 adjusted earnings before interest,
taxes, depreciation and amoritization, excluding an estimated $40 million in annualized cost synergies and a strong liquidity
profile.
KLXE and Quintana indicate the combined company will retain the KLXE name
and ticker but will close KLXE's corporate
headquarters in Wellington, Fl., and combine the companies' Houston facilities.

Apergy, ChampionX Merge
For Production Expertise
THE WOODLANDS, TX.-ChampionX Corp. announces it has formed
through a merger between Apergy Corp.
and ChampionX Holding Inc., the former
upstream energy business of Ecolab Inc.
"Our combined company will be a
strong and resilient organization with
a broad geographic footprint, high quality customer base and significant recurring revenue," says Sivasankaran
"Soma" Somasundaram, ChampionX's
president and chief executive officer.
"The combination enables us to bring
together a unique platform with bestin-class product lines in artificial lift,
production chemicals and digital technology delivered with superior service
capabilities to provide the full spectrum
of production-optimization solutions to
our customers.
"Financially, this transaction results
in a company with sustainable strong
free cash flow generation and has an immediate deleveraging benefit for the company's balance sheet," Somasundaram
adds. "We will immediately implement
our plans to capture the $75 million in
expected cost synergies, plus additional
revenue growth opportunities made possible by the complementary product, geography, and customer profiles of the
combined organization."
For more information, please visit
www.championx.com.
❒

"QES will add directional drilling,
snubbing and well control services to
KLXE's already broad range of product
and service lines," says KLX President
and Chief Executive Officer Tom McCaffrey. "We will be rationalizing two of the
largest fleets of coiled tubing and wireline
assets, which will dramatically reduce
future capital spending requirements and
facilitate the pull-through of KLXE's asset-light products and services."
McCaffrey says the combined company
will have the largest fleet of large-diameter
coiled tubing units in North America and
one of the United States' largest wireline
fleets.
QES President and CEO Christopher J.
Baker comments, "The downhole motor
technology, vertical integration and inhouse machining capacity within QES's
drilling segment will reduce KLXE's downhole tool costs and allow for cross-pollination
of motor and tool technologies to provide
best-in-class reliability and performance."
For more information, please visit
klxenergy.com.
❒

Edge LNG Helps EXCO
Monetize Stranded Gas
MALVERN, PA.-EXCO Resources
has contracted Edge Gathering Virtual
Pipelines 2 LLC (Edge LNG) to capture
and liquefy gas from a stranded well in
the Marcellus Shale, Edge LNG reports.
Under the agreement, Edge LNG says
it will deploy its mobile, truck-delivered
liquification plants to the Marcellus site,
buy stranded gas from EXCO and turn it
into LNG. The LNG will be sold and delivered by truck to customers in the Northeast, who will use it provide natural gas
to homes and businesses.
"This deal is yet another example of
how Edge LNG is delivering value to
operators by monetizing wells that otherwise would remain dormant, and helping
to grow the domestic LNG market," says
Mark Casaday, the company's chief executive officer. "In a challenging operating
environment, we can help operators by
maximizing the value of their assets and
providing new sources of revenue."
For more information, please visit
www.edgelng.com.
❒

Corrosion-Free Tubulars Complete Strength Tests
AMSTERDAM-CRA-Tubulars says
it has completed third-party strength
tests for its carbon fiber spoolable tubing
(CFST), which it describes as a lightweight, corrosion-free tubing for wells
with high temperatures and pressures.
According to CRA-Tubulars, CFST
is nonmetallic, naturally inert to corrosion
and stronger than steel. It can survive
in environments with high hydrogen
sulfide and carbon dioxide levels, the
company adds.
Emile Burnaby Lautier, CRA-Tubulars' founder and chief executive officer,
says carbon fiber offers an alternative
to coating or chemically treating metal
to slow corrosion. "We set out to solve
the corrosion issue from its core. Eliminate the iron, eliminate
the degrada-

tion," he outlines. "Why not follow
other industries, such as aerospace, by
replacing metallics with a stronger,
lighter material?"
CFTS weighs a third as much as
steel, Lautier details. He says the tubulars' single-piece construction minimizes
leak paths and allows them to be spooled
and deployed with a hydraulic workover
unit rather than a rig.
According to CRA-Tubulars, CFST
has temperature ratings to 350 degrees F,
burst ratings to 18,000 psi, and tensile
ratings to 250,000 pounds. The company
mentions it is seeking trial partners for
field installations at prices comparable
with chrome 13 tubing.
For more detailed information, please visit
www.cra-tubulars.com. ❒

Because it is free from metallics, carbon fiber
spoolable tubing is inert to corrosion, CRATubulars says.

JUNE 2020 69


http://www.klxenergy.com http://www.edgelng.com http://www.cra-tubulars.com http://www.championx.com

American Oil and Gas Reporter - June 2020

Table of Contents for the Digital Edition of American Oil and Gas Reporter - June 2020

Contents
American Oil and Gas Reporter - June 2020 - Intro
American Oil and Gas Reporter - June 2020 - 1
American Oil and Gas Reporter - June 2020 - 2
American Oil and Gas Reporter - June 2020 - Contents
American Oil and Gas Reporter - June 2020 - 4
American Oil and Gas Reporter - June 2020 - 5
American Oil and Gas Reporter - June 2020 - 6
American Oil and Gas Reporter - June 2020 - 7
American Oil and Gas Reporter - June 2020 - 8
American Oil and Gas Reporter - June 2020 - 9
American Oil and Gas Reporter - June 2020 - 10
American Oil and Gas Reporter - June 2020 - 11
American Oil and Gas Reporter - June 2020 - 12
American Oil and Gas Reporter - June 2020 - 13
American Oil and Gas Reporter - June 2020 - 14
American Oil and Gas Reporter - June 2020 - 15
American Oil and Gas Reporter - June 2020 - 16
American Oil and Gas Reporter - June 2020 - 17
American Oil and Gas Reporter - June 2020 - 18
American Oil and Gas Reporter - June 2020 - 19
American Oil and Gas Reporter - June 2020 - 20
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