Okotoks, AB (pcJ News Briefs) – Mullen Group Ltd. (TSX: MTL) has acquired all of the issued and outstanding shares of Envolve Energy Services Corp., a privately owned well disposal company based in Grande Prairie, Alberta. Mullen Group previously owned 37.9% of Envolve. Financial terms were not disclosed.
In 2015, Mullen Group invested $10.9 million, including $4.3 million of debentures to Envolve, for minority interests in Envolve, Cordova Oilfield Services Ltd., and Butler Ridge Energy Services (2011) Ltd.
Envolve provides well disposal services at a Class II facility located south of Grande Prairie, Alberta that is capable of handling in excess of 1,000 cubic meters of fluid per day. Envolve commenced operations in 2015 and is situated in the Montney resource play with ideal access from primary transportation routes.
photo credit: SEnvolve Energy Services