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DEAL: Aureus Energy Services Inc. Completes Strategic Acquisition of Amperage Energy Inc.


NEWS PROVIDED BY
Aureus Energy Services Inc. 

February 13, 2019

CALGARY, Feb. 13, 2019 /CNW/ – Aureus Energy Services Inc. (“Aureus“) is pleased to announce it has acquired all of the outstanding shares of Amperage Energy Inc. (“Amperage“).  This strategic acquisition will allow Aureus to extend its service offerings from upstream water sourcing, water transfer, heating and hot oil services to the proven and cost-effective treatment of produced, H2S and flowback water.  This acquisition cements Aureus as an industry leader in the fluid management business, with a diverse service platform across Western Canada and the United States.

Since its founding in 2007, Amperage has built an extensive fleet of mobile water treatment equipment with operating bases in both southern Alberta and northeast British Columbia.  The company has created proven and patented methods of providing environmentally responsible and commercially successful on-site water treatment, as well as innovative technologies for SAGD operations and other industries.  Amperage’s fleet can treat up to 50,000m³ (300,000bbl) per day, depending on the amount of treatment required.

Jason Tocheniuk, Founder and CEO of Aureus commented “I am extremely pleased that by combining Aureus and Amperage, we are able to provide our customers with a comprehensive service offering across the full life cycle of water and industrial fluids.   As the oil and gas industry continues to push the use of produced water in fracturing operations, the demand for onsite treatment continues to grow.   Aureus and Amperage will be well-positioned to enable our customers to optimize their water management programs and economically reuse water.”

Chad Randal, founder and CEO of Amperage, has joined Aureus as the Vice President of Fluid Technologies and now sits on the Board of Directors of Aureus.  Mr. Randal, who will continue to focus on providing technology  based solutions within the sector commented “Amperage has been providing innovative and practical solutions to the water management industry for years. The combined entity will have the resources and expertise to enhance our service offerings to a larger customer base throughout the North American basins.”

There will be no changes at this time for our clients, as both Amperage and Aureus will continue to work under their own names until future notice.  Aureus and Amperage would like to thank our clients for their continued support.

About Aureus:

Aureus Energy Services is a leading water management services provider in Canada with a growing presence in the United Status.  Aureus’ focus has always been on creating innovative, technology-enabled solutions for water management while providing first class service for our customers.   Since its founding in 2011, Aureus has differentiated itself through the introduction of our natural gas fueled heaters, electric water transfer pumps, and integration of control and automation into water management, water pumping and heating assets and now water treatment solutions.

For further information please visit Aureus’ and Amperage’s websites at  www.aureusenergy.com / www.amperageenergy.com

FORWARD-LOOKING STATEMENTS

Certain information contained in this document constitutes forward-looking statements.  By their nature, forward-looking statements are subject to numerous assumptions, risks and uncertainties, some of which are beyond Aureus’ control.  Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Actual results, performance or achievement could differ materially from those expressed in or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits Aureus or Amperage will derive therefrom.

The forward-looking statements contained in this document are made as of the date hereof.  Aureus disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Additionally, Aureus undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

SOURCE Aureus Energy Services Inc.

For further information: Aureus Energy Services Inc.: Jason Tocheniuk, President and CEO, 403.888.6944; Brian Lane, VP Corporate Development, 403.923.3097

Related Links

https://www.aureusenergy.com/



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