Halliburton buys Summit ESP

Tulsa, Oklahoma-based Summit ESP engineers, manufactures and services electric submersible and surface pumping systems. The company has more than 500 employees in almost 30 locations across North America.

The addition of Summit’s electric submersible pump system expands Halliburton’s artificial lift portfolio.

“The acquisition of Summit expands Halliburton’s existing artificial lift capabilities and increases our overall leading position in North America oilfield services,” said Jeff Miller, president and CEO of Halliburton. “This accretive transaction accelerates our strategy to deliver leading returns to our shareholders and maximize asset value for our customers.”

John Kenner, president and CEO of Summit, said: “We’re proud of the company we’ve built and thank our employees for their commitment to the company and for providing outstanding service quality to our customers. The combination of Halliburton and Summit creates exciting opportunities for both our customers and employees. We look forward to capitalizing on Halliburton’s deep customer relationships and international presence to accelerate our growth.”