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Centurion cements Permian position with latest acquisition

Aberdeen-headquartered energy service firm Centurion Group said today that it had bought a Texan valve technology company.

The swoop for Totalfrac is Centurion’s fourth acquisition in the last year and further cements the group’s position in the Permian basin, the heart of the US fracking industry.

Centurion recently announced the extension of its banking facilities to support its future growth plans, and expects to make further progress in 2019, both organically and by through acquisitions.

Totalfrac provides low maintenance, durable valves used in various well fracking and production operations.

To further support this acquisition, Centurion has invested in a fleet of wellhead isolation tools.

Centurion chief executive Fernando Assing said: “I am delighted to welcome Totalfrac to Centurion and look forward to working with them.

“Drilling, completions and production services are of critical importance to us, and for our customers, and we are pleased to be able to expand, and enhance, our flowback and well testing product lines.”

Derek Elzner, president of Centurion US land, said: “We are excited to announce the addition of Totalfrac to Centurion.

“The addition of their high-quality valves, designed to be low maintenance, will provide higher uptime for clients.

“This is yet another example of Centurion’s strategy to diversify product and service offerings, while providing our customers the highest quality products”.

Centurion Group employs about 1,200 people around the world, of whom 300 are based in Scotland.

In 2018 the group reported revenue increasing by 40% to £350 million and profits more than doubling to £56m.

The group has three business segments: accommodation and modular solutions,
drilling, completions and production, and infrastructure.

It operates across four key geographical markets: US land, Canada rentals and services, Canada infrastructure, and rest of the world.

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