Halliburton has closed the acquisition of Boots & Coots, a Houston, Texas based well pressure control service provider to onshore and offshore oil and gas exploration companies.
The merger combines Halliburton’s coiled tubing and hydraulic workover operations with Boots & Coots’ well intervention services, providing operators with a more comprehensive production services portfolio.
Halliburton acquired all of the outstanding stock of Boots & Coots through the stock and cash transaction. Boots & Coots’ operating management have been retained to lead Halliburton’s Boots & Coots product service line with operating results reported through Halliburton’s Completion and Production reporting segment. The acquisition is expected to be accretive in the first full year of operation.
Boots & Coots has operations across Africa and the Middle East with an office in the UAE.
“We are pleased to close this acquisition and initiate the integration process with Boots & Coots’ talented group of professionals,” said Marc Edwards, Halliburton’s senior vice president of Completion and Production. “Through the new Boots & Coots product service line, our customers will have access to the industry’s most advanced and wide-ranging suite of well intervention and pressure control services to optimise and improve full life-cycle returns.”
“Merging with Halliburton serves as a perfect complement to Boots & Coots’ growth strategies and is a natural addition to Halliburton’s global service capabilities,” said Jerry Winchester, Halliburton’s vice president of the Boots & Coots product service line.
Boots & Coots, with its headquarters in Houston, Texas, provides a suite of integrated pressure control services to onshore and offshore oil and gas exploration companies around the world. Boots & Coots’ products and services include well intervention services designed to enhance production for oil and gas operators. These services consist primarily of hydraulic workover and snubbing services.
Boots & Coots’ equipment services segment provides high pressure, high temperature rental tools. The company’s pressure control services are designed to reduce the number and severity of critical events such as oil and gas well fires, blowouts or other incidences due to loss of control at the well.
