| Source: Doull Site Assessments Ltd.
CALGARY, Alberta, April 13, 2018 (GLOBE NEWSWIRE) — Doull Site Assessments Ltd. (DSA), a well integrity service and technology provider to the Canadian oil and gas industry, along with Capstone Oilfield Services Ltd. (Capstone), a well abandonment and blowout recovery company serving the Canadian energy sector, today announced the sale of DSA to Capstone. The merger will provide immediate benefit to customers of both companies, integrating technology, insight and experience of DSA’s thirty years as well integrity experts with Capstone’s innovative abandonment model.
Dwight Bulloch, Capstone President, expressed his enthusiasm about the acquisition by stating, “Capstone was founded to be the industry leader in well abandonments and Doull Site Assessments is the unquestioned industry leader in well integrity testing so having them a part of Capstone is a natural fit.”
Ryan Doull, President of DSA, echoed the sentiment by saying, “When we became aware of Capstone and started discussions to find out if there was an opportunity for a working partnership, we found the synergies between our companies to be strikingly obvious, and very beneficial for everyone.”
DSA will operate as a wholly owned subsidiary of Capstone, which has a very bright future as a leading well abandonment service provider. DSA’s former owners, Kerry and Miriam Doull, recognized this as well. They did not hesitate to come on board as Capstone shareholders, showing their confidence in the value of an integrated well abandonment model.
Capstone’s process is proving to be a highly efficient asset retirement practice. They’ve broken through barriers of time and cost by innovating with infrastructure and technology, while ensuring operational excellence. Having DSA’s team in house will further improve efficiency and precision toward the end goal of successful well abandonment.
“Bringing these two companies together means the site assessments, the well integrity testing, data tracking and abandonment work are all in one shop, the process is streamlined, more accurate and provides our customers more value,” said Dwight. “From our initial introduction and throughout the integration process, the Capstone and Doull teams have worked naturally together and I am excited to see what the future holds for both companies,” he continued, indicating his confidence in the next stage of business for Capstone.
Ryan was equally eager to move forward. “We’re very excited about the future for both companies, and all of our new and existing customers and partners,” noted Ryan. “We can continue to provide the same level of excellence to our clients as we always have, and now we have the strength of other accomplished professionals at our disposal, to improve the outcome for everyone.”
DSA’s main operational base in Lloydminster remains unaffected by the merger, and will continue to serve as a hub to the heavy oil region. DSA will relocate its Calgary office and shop to Capstone’s facility in Airdrie, AB immediately, where it will continue to serve the Southern Alberta market operationally, and the downtown Calgary customer base.
Capstone Oilfield Services Ltd. is a privately held Canadian company specializing in Blowout Recovery and Well Abandonments. Capstone Abandonments provides a true full service for wellbore decommissioning via their unique project management process and their custom field packages that combine the service rig, wireline and cementing into one. Capstone Blowout Recovery provides the Canadian market with experienced leadership, specialized tools, and valuable working alliance partnerships to assist oil & gas operators in the planning and responsible execution of well control and blowout recovery processes. For more information, visit www.capstoneos.com
DSA is a privately held Canadian company, specializing in well integrity testing, monitoring, sampling and consulting services and technology. Now headquartered from Capstone’s offices in Airdrie, Alberta, DSA has a number of commercialized products and services, including proprietary external gas migration methodology, VentMeter™ surface casing vent flow monitoring, and associated software and intellectual property. For more information, visit www.doullsite.com.