Dubai, UAE, 25 June 2012
Viking Services B.V. ("Viking") announced today the completion of its acquisition of Viking International, Viking Geophysical and Viking Oilfield Services. Viking is the JV between Funds managed by Abraaj Capital, a leading private equity firm investing in global growth markets and Dalea L.P., a private investment company founded by N. Malone Mitchell, 3rd with investments in the oil and gas, agriculture, consumer retail, and real estate sectors.
The acquisition strengthens Viking's position as a fully integrated oilfield service group focused on providing services in the conventional and unconventional resource plays in Turkey, Poland, Bulgaria, Romania, Kurdistan and other key Eastern European and Middle Eastern countries. The combined group boasts a strong portfolio of services across the well life cycle including geophysical services, drilling services and completion services inclusive of fracture stimulation with a fleet of best in class, technologically advanced equipment. With strong backing from its shareholders, Viking intends to continue investing capital to expand its presence and service base across the Middle East, North Africa and Eastern Europe.
Dustin Guinn, Chief Executive Officer of Viking, said: "We are extremely excited about the acquisition of Viking International, Viking Geophysical and Viking Oilfield Services. Viking has demonstrated a unique ability to assemble high quality assets and management with a proven history of operational success and fiscal responsibility. The ability to attract investors of Abraaj and Dalea's caliber, who share Viking's competitive desire for controlled growth and unquestioned excellence, will undoubtedly accelerate our ability to expand our operational footprint and execute Viking's business plan."
© Press Release 2012
