Posted June 1, 2010
McJunkin Red Man acquires South Texas Supply
McJunkin Red Man Corporation announced the acquisition of South Texas Supply Company Inc.
Details of the transaction were not disclosed.
To support oil and gas exploration and production as well as the pipeline and transmission infrastructure, MRC plans to expand operations and inventory in active shales both organically and through acquisition, such as within the Eagle Ford Shale in southern Texas, according to a company statement.
MRC said the acquisition is part of its strategic focus to increase its presence and commitment to customers in the active shale plays across North America.
South Texas Supply operates branches in Carrizo Springs and Dilley, and has supplied oilfield products to the region since 1996. Mark Hassell, one of the selling shareholders, will continue to manage the two locations.
MRC currently operates branch locations in Laredo, Corpus Christi, Gonzales, Mission and Jourdanton. MRC plans additional expansions in the region with a regional hub and major pipe yard, increasing inventories and enhancing logistics to meet the needs of MRC's major customers in the region.
MRC also recently opened a new facility in Horseheads, N.Y., supporting the northern activity in the Marcellus Shale and will soon open branches in Shreveport, La., and Center, Texas, supporting the Haynesville Shale.
