In its eighth acquisition in four years, Frontier Energy Group, LLC has purchased Oklahoma City-based Canary Wellhead as part of the company’s strategy to buy oilfield service (OFS) brands that expand the company’s footprint and service offerings. Canary Wellhead will operate under the name Canary, LLC, headquartered in Denver, Colo.
The multimillion-dollar agreement creates a $100 million revenue company with 26 locations across the United States, servicing customers in every major shale oil and gas region. The transaction makes the new company one of the largest privately held OFS companies in the nation.
“Canary Wellhead enables Frontier to further its acquisition strategy to operate in all major plays and provides our customers with one-stop shopping and in-house design-and-build capabilities,” says Frontier CEO Dan Eberhart. “The new Canary will compete nationally with the biggest multinationals, while still providing the high level of care and attention that our customers have come to expect.”
The acquisition joins two long-standing companies with more than 50 years of industry expertise, and is expected to boost the new company’s profitability by 50 percent. Canary LLC’s customer base will approximate 900 customers of all sizes, including such brands as Hess, ExxonMobil, and ConocoPhillips. Eberhart will lead Canary, LLC with Canary Wellhead officers, Lynn Blevins and Jim Chappell, joining the new team as vice presidents.
“This deal is a great win for our customers, who will benefit from the new Canary’s fully turnkey services, and we’re excited to be a part of the new company,” says Blevins. “Our combined expertise will help Canary maintain consistent and exceptional service, and we look forward to helping our customers have a successful 2013.”
About Canary, LLC
Based in Denver, Colo., Canary LLC provides comprehensive oilfield drilling and production services to oil & gas companies throughout the United States. Canary is one of the nation’s largest independently held oil field services (OFS) companies. With 26 locations, Canary operates in every major shale oil & gas region in the United States, including North Dakota’s Bakken, Colorado’s Niobrara, Oklahoma’s Woodford and Ohio’s Utica. Canary LLC offers turnkey services to its customers for all of their drilling and production needs.