Enerflex Assimilates Axip’s Overseas Ops

Former Valerus fleet totals 448 compressors


Published:

Enerflex Ltd. of Calgary has completed its US$430 million purchase of Axip Energy Services’ international contract compression and processing operations, as well as its after-market services business.

The acquisition, which had been announced June 1, did not include Axip’s U.S. assets. Axip is the former Valerus Compression Services. It became a stand-alone company on Jan. 3, following the sale of Valerus Field Solutions to Kentz Corp. Ltd.

Headquartered in Houston, Axip’s international business operations were in Mexico, South America, Southeast Asia and the Middle East.

The acquired assets included a 448 unit compression fleet totaling 285,000 hp (212 MW) with utilization above 90% and an average age of 5.5 years. Other assets include gas treatment facilities in Mexico, Argentina and Peru.

All 173 Axip international employees have joined Enerflex.

Archive »Recent Articles

Cameron Sells Centrifugal Division to Ingersoll Rand

Cameron is selling its centrifugal compression division to Ingersoll Rand (IR) for US$850 million as part of a long-term business strategy to focus on its core markets.

U.S. Gas Exports to Mexico Set Record

U.S. natural gas exports to Mexico were a record 2.5 Bcfd (70.8 x106 m3/d) on July 24 and averaged 2.3 Bcfd (65.1 x106 m3/d) from June through August, more than double the pipeline flow in 2010.

USA Compression Orders More Horsepower

USA Compression Partners LP, Austin, said its fleet horsepower has increased 38.9% to 1.3 million hp (1000 MW), compared to the same period last year, aided in part by its acquisition of 138,000 hp (103 MW) from S&R Compression in August 2013.

Compressco Partners Improves Utilization Rate

Compressco Partners of Oklahoma City reported that its average compressor fleet utilization rate was 85.3% during the second quarter, compared to 82.6% in the same period of 2013.

NGSG’s Rental Revenues Climb 16%

Natural Gas Services Group of Midland, Texas, said its second quarter revenues rose to US$22 million, up from US$20.3 million in the corresponding period of 2013, due to a 16% gain in rental revenue.