Houston-based NexTier Oilfield Solutions said Aug. 4 it is acquiring Midland-based Alamo Pressure Pumping in a transaction valued at $268 million that combines two leading providers of low-carbon well completion solutions in Permian Basin. Alamo’s focus on Midland Basin complements NexTier’s position in Delaware Basin. After closing Aug. 31, NexTier expects to operate 17 hydraulic fracturing fleets in Permian and 46 fleets total “with the largest deployed fleet capable of being fueled by low-emission natural gas in the market today.”
Alamo’s fleet operates exclusively in Permian Basin with 9 Caterpillar Tier IV hydraulic fracturing fleets (more than 460,000 hhp). Robert Drummond, president and CEO, said, “The acquisition of Alamo accelerates and magnifies the impact of our next-generation technology strategy, providing NexTier with significant opportunities for deploying gas-powered equipment and complimentary integrated solutions into a market with high and increasing demand. Combined, we will operate the third largest base of active hydraulic horsepower across the U.S. and the largest base of next-generation equipment in the Permian.”