Francis Drilling Fluids has purchased oilfield service company Envirochem, a merger designed to enhance multiple service lines across several sectors of the oil and gas industry. The deal was finalized in July; terms of the transaction were not disclosed.
Lafayette-based FDF, which has been in operation since 1977, is owned by Prophet Equity, a private equity firm based in Southlake, Texas. FDF is one of the oldest drilling fluids companies on the Gulf Coast and one of the largest frac sand distributors in North America.
In a prepared release, FDF says it has been at the forefront of environmental stewardship, providing "disposal free" dockside cleaning since 1998. Envirochem, owned by Walter Hidalgo Jr. and headquartered in Erath, specializes in the offshore cleaning industry, supporting both drilling and production activities.
"This is a promising acquisition that will satisfy not only our cleaning business requirements, but also our associated cleaning products and rental equipment," FDF President and COO Doug Chapple said in announcing the purchase.
Because both FDF and Envirochem have strong brand recognition across various oil and gas service sectors, Envirochem has retained its name and is operating as an FDF-owned company. There has, however, been some consolidation of business functions and staffing.