SALT LAKE CITY--(BUSINESS WIRE)--Savage today announced that it has signed a definitive purchase agreement to acquire Ft. Worth Pipe Services, L.P. This acquisition will bring expanded services to Savage’s oil and gas customers, and will offer existing Ft. Worth Pipe customers increased opportunities to move oil country tubular goods (OCTG) to market.
“At a time of such growth in our industry we are excited to join Savage to help expand the ways we serve the oil field. Our combined skills and services will bring added value to both Savage and Ft. Worth Pipe customers.”
Since 2004, Ft. Worth Pipe has been a leading provider of OCTG and line pipe storage, transloading, trucking, and cleaning and drifting services to leading oilfield customers at multiple locations in the Permian Basin, Barnett Shale and Marcellus Shale plays. Ft. Worth Pipe capabilities include accurate inventory management, on-time delivery, and infield services to ensure that products get from the facility to the well site in a “ready-to-run” state. These capabilities complement Savage’s industry leading crude-by-rail transloading and other oilfield logistics services.
By adding Ft. Worth Pipe’s network of pipe storage yards, located in the heart of multiple shale plays, Savage will expand the services it offers oil and gas customers. In addition to pipe transloading, Savage will be able to provide pipe threading, hydro-testing and other pipe inspection and repair services. In connection with the acquisition, Savage will be commissioning a pipe transloading facility adjacent to the Savage Bakken Petroleum Services Hub, located near Trenton, North Dakota. This new facility will provide OCTG storage, transloading, trucking, threading, and clean and drift services to oil and gas producers in the Williston Basin. Savage will also be working closely with customers to provide OCTG services in the other oil and gas plays.
“The knowledge, industry insight and customer relationships the Ft. Worth Pipe team brings to Savage makes them a natural extension to our network,” said Kirk Aubry, Savage President and Chief Operating Officer. “Their expertise in OCTG logistics combined with six strategically located facilities in key shale plays expands the range of solutions Savage will be able to bring to our customers.”
Kevin Ford, the General Manager of Ft. Worth Pipe, added, “At a time of such growth in our industry we are excited to join Savage to help expand the ways we serve the oil field. Our combined skills and services will bring added value to both Savage and Ft. Worth Pipe customers.” Mr. Ford will remain General Manager of Ft. Worth Pipe going forward.
As a result of the acquisition, all equity interests, assets and locations of Ft. Worth Pipe will be owned by Savage. The acquisition is subject to customary closing conditions and is expected to be completed on or before June 30, 2013. Contact Erik Skoy for more details on pipe transloading and logistics services and for details on the new pipe transloading facility in Trenton, ND: email@example.com, 801-664-1879.
Savage is an innovative supply chain solutions company, dedicated to creating value for customers by moving and managing critical materials and improving operational efficiency with worry-free consistency. With 170 locations and over 2,600 employees, Savage is a global leader in the creation and delivery of bundled supply chain management services that are tailored to meet the needs of customers. Savage serves many industries including; electric power generation, coal production, oil and gas, refining, agriculture, chemical, mining and manufacturing. With capabilities that span transportation, asset management and material handling and processing, Savage provides services and technology customized for each customer’s unique supply chain challenge. For further information regarding Savage, please visit www.savageservices.com.