December 11, 2020
Tier 1 is a leading provider of completion and production products,services and technologies for the oil and gas industry. The company designs,manufactures, and installs a range of high-value well completion and artificial lift solutions for onshore operators across North America.
The acquisition of Definitive and Tier 1’s purchase of the patents and intellectual property of Premier Integrated Technologies, Ltd.(“PIT”), builds upon Tier 1’s existing presence in the artificial lift space by expanding its expertise and product offering. The transactions mark a step in a series of initiatives Tier 1 has undertaken to transform from a pure-playwireline services operator into a leading provider of technology enabled products and services spanning the life cycle of an oil & gas well.
Kevin O’Dwyer, Tier 1’s Chief Executive Officer, will oversee the combined business. O’Dwyer has more than 35 years of experience in the energy services industry. O’Dwyer commented,
“We are excited to complete the acquisition of Definitive and welcome all of the company’s employees to theTier 1 team. Definitive’s reputation for high-quality products and a strong commitment to customer service aligns very well with Tier 1’s technology portfolio and customer-first approach to business. We look forward to providing our clients a broader suite of products to meet their completions and production technology needs.”
Diane Declercq, a member of Definitive’s Board of Directors commented,
“Tier 1 has been an excellent partner to Definitive and our organization is excited to join the team. Tier 1’s commitment to technology and its established well completion and artificial lift platform makes the company a natural home for Definitive. We are excited to expand our presence as an industry leader through this acquisition.”
Tier 1 Energy Solutions, Inc. provides a range of technology enabled well completion and artificial lift products for onshore operators acrossWestern Canada. In addition, the company is a leading provider of wireline and completions support services in Western Canada and select markets in the US. The company is headquartered in Edmonton, Alberta and has service centers locatedin all major Western Canadian oil and gas basins, the Permian Basin in WestTexas and New Mexico, the Mid-Continent Basins across Oklahoma, and the Bakken in North Dakota.
Founded in 2009, Definitive is a leading provider ofartificial lift products. Definitive offers a full line of plunger lift and gaslift products as well as associated machining and field services. Headquartered in Brooks, AB, Definitive hasservice centers across the Western Canadian Sedimentary Basin.
Chief Executive Officer