FourQuest Energy

FourQuest Energy

November 20, 2013 10:24 ET

FourQuest Energy Announces the Acquisition of the Chemical Product Line of Odyssey Technologies Inc.

EDMONTON, ALBERTA--(Marketwired - Nov. 20, 2013) - FourQuest Energy, an international oilfield services company, announced today that they have acquired the assets of Odyssey Technologies Inc., a custom chemical solution company based in Houston, Texas. OTI has been one of the process industry's leading suppliers of specialty chemicals. After using OTI's chemistry for many years, FourQuest has full confidence in its superiority. With this acquisition, FourQuest Energy is now in the position to deliver one of the most powerful and complete portfolios of services in the energy industry, proving itself to be a truly integrated service company.

"I am very proud that we have acquired the assets of Odyssey Technologies Inc. (OTI)," said Nik Grgic, FourQuest Energy President. "This is our first acquisition, which is taking place only five years into our business' life; it represents a major milestone in our company's growth. This will not only give us a stronger presence in Houston, TX, but it will also allow us to sell chemicals everywhere we conduct our business."

Until today, FourQuest Energy's growth has been solely organic. This acquisition will help accelerate the company's already enviable pace of growth and allow it to service more clients worldwide. Everyone at FQE is incredibly proud of what the company has accomplished together over a short period of time. At this rate, there's no telling just how bright the future may be.

In the early years of development, FourQuest sought out offerings from a number of third party chemical suppliers to enhance its field services. After searching the market and using various chemistries, it became very apparent that the performance of one specific manufacturer's shone above the rest-those of Odyssey Technologies Inc. Feedback from FourQuest's clients further confirmed that the use of these particular chemistries provided the best results every time.

Although the range of chemistries is too great to list, OTI's core chemistries specialize in degassing and decontamination, including LEL's, H2S, pyrophoric scale, heavy hydrocarbons, grease, and odours. FQE is excited to not only produce these chemistries worldwide, but also to invent new chemistries to suit specific client needs. The inventor of all these chemistries, Mr. Douglas Mason, has joined FourQuest in the Technology and Research Division as the Research and Development Manager, Chemistry. Mr. Mason will be based in Houston.

"The acquisition of these OTI assets is a natural progression and a positive step for both FourQuest Energy and our clients, giving us even more inspirational aspects of our business to look forward to," said Executive Vice-President Karl Gannon.

For information on FourQuest Energy's services, please visit our website at: www.fourquest.com.

About FourQuest Energy

FourQuest Energy (FQE) is an ISO 9001:2008 certified dynamic, innovative oilfield services company, providing pre-commissioning, commissioning, and regular shutdown and maintenance services to the energy industry. These services include: steam blowing, air blowing, oil flushing, chemical cleaning, fluid pumping, nitrogen services, engineering and procedure writing, pipeline pigging and testing, chemical degassing and decontamination, static load tank testing, hydro-testing, filtration, and fluid heating services. FourQuest Energy is focused on fulfilling the needs of its clients in the oil, gas, and power industries across Canada, the United States, the Middle East, and the Caspian Region.

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