Bold Production Services, LLC (Bold or the company) has enhanced its gas treating capabilities via the acquisition of proprietary assets including the intellectual property rights to a hydrogen sulfide (H2S) scavenger and long standing customer relationships. The H2S scavenger is highly complimentary to Bold's existing gas treating and processing assets and advances Bold's vision of creating a turnkey production solution. Additionally, the acquisition further facilitates Bold's entry into the midstream and downstream energy verticals.
The H2S scavenger acquired by Bold has a proven track record of successfully treating and eliminating H2S from natural gas. It has been used by Fortune 500 companies in all three energy verticals and across the US for over 20 years to effectively reduce H2S emissions. The chemical does not contain triazine and is liquid-based as opposed to a granular media. These characteristics benefit customers by lowering disposal costs and minimising well downtime.
"Despite a challenging market, Bold has continued to expand the products and services we provide to our customers. This acquisition was particularly attractive because it is highly complimentary to our existing product and service offering," said Bold CEO Glen Wind. Bold President Blake Maywald said, "Heading into 2017, we are focused on growth. In addition to supporting our existing customers, this acquisition will allow us to pursue new customers in the midstream and upstream energy verticals."
"The addition of this new product line is exciting," said Jerad McMayon, Partner at OFS Energy Fund. "OFS is pleased to support Bold as it furthers its vision of creating a turnkey production solution for its customers."
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/03022017/bold-acquires-gas-treating-chemical/