Total Energy Services Trust

Total Energy Services Trust

December 04, 2007 18:01 ET

Total Energy Services Trust Announces Closing of Oilpatch Rentals Acquisition

CALGARY, ALBERTA--(Marketwire - Dec. 4, 2007) - Total Energy Services Trust (TSX:TOT.UN) ("Total") is pleased to announce that Total Oilfield Rentals, a division of Total Energy Services Ltd., has completed the acquisition of the oilfield drilling and production rental equipment and trucking assets of Oilpatch Rentals Ltd. ("Oilpatch Rentals") for $9.4 million cash. The effective date of the acquisition was December 1, 2007.

Based in Fort St. John, British Columbia, Oilpatch Rentals has been in business since 2003 and provides quality surface drilling and production rental equipment and oilfield transportation services to oil and natural gas companies operating in northeastern British Columbia. The purchased assets include approximately 375 pieces of rental equipment and five heavy trucks. With the addition of the Oilpatch Rentals' assets, Total Oilfield Rentals currently owns approximately 3,875 pieces of rental equipment and 71 heavy trucks. Total Oilfield Rentals operates out of 15 branch locations throughout Western Canada.

Total Energy Services Trust is a growth oriented oil and gas service income trust involved in contract drilling services, drilling and production rentals and natural gas compression equipment fabrication, sales, rental and service. The trust units of Total are listed and trade on the TSX under the symbol "TOT.UN".

The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.

Contact Information

  • Total Energy Services Trust
    Daniel K. Halyk
    President & Chief Executive Officer
    (403) 216-3921
    Total Energy Services Trust
    Mark A. Kearl
    Vice-President Finance and Chief Financial Officer
    (403) 216-3920