Halliburton Acquires Summit ESP
July 05 2017 - 6:50AM
Business Wire
Summit’s Electric Submersible Pump System
Expands Halliburton Artificial Lift Portfolio
Halliburton Company (NYSE: HAL) today announced the acquisition
of Summit ESP, a leading provider of electric submersible pump
(ESP) technology and services. The addition of Summit’s artificial
lift offerings and industry-leading customer service strengthens
Halliburton’s artificial lift portfolio for its global
customers.
“The acquisition of Summit expands Halliburton’s existing
artificial lift capabilities and increases our overall leading
position in North America oilfield services,” said Jeff Miller,
president and CEO of Halliburton. “Summit’s unrivaled service
quality, proven technology and U.S. market leadership make it a
perfect fit for Halliburton. This accretive transaction accelerates
our strategy to deliver leading returns to our shareholders and
maximize asset value for our customers.”
John Kenner, president and chief executive officer of Summit
said, “We’re proud of the company we’ve built and thank our
employees for their commitment to the company and for providing
outstanding service quality to our customers. The combination of
Halliburton and Summit creates exciting opportunities for both our
customers and employees. We look forward to capitalizing on
Halliburton's deep customer relationships and international
presence to accelerate our growth.”
Summit engineers, manufactures, and services a complete product
offering of electric submersible and surface pumping systems. Based
in Tulsa, Okla., Summit has more than 500 employees in almost 30
locations across North America.
About Halliburton
Founded in 1919, Halliburton is one of the world's largest
providers of products and services to the energy industry. With
approximately 50,000 employees representing 140 nationalities, and
operations in approximately 70 countries, the company serves the
upstream oil and gas industry throughout the lifecycle of the
reservoir – from locating hydrocarbons and managing geological
data, to drilling and formation evaluation, well construction,
completion and production optimization. Visit the company’s website
at www.halliburton.com. Connect with Halliburton on Facebook,
Twitter, LinkedIn, and YouTube.
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