Edge Natural Resources backs Ideal's purchase of flowback assets
Calgary oilfield services company Ideal Completions Group LLC has agreed to acquire the Canadian and U.S. flowback and production testing assets of Cathedral Energy Services Ltd. In a separate statement, Cathedral said the deal has a total cash consideration of $17.8 million. The acquisition, expected to close in January, will be funded by Ideal management and an affiliate of Edge Natural Resources, a U.S. energy private equity firm. Led by President Rutger Niers, Ideal said it has access to additional capital to expand its flowback business in North America.
19 December 2016•2 mins read
