Complete Production Services tries to live up to its name as it serves customers in the Rocky Mountains, Arkansas, Louisiana, Oklahoma, Pennsylvania, and Texas. It is a major provider of services and products that help oil and gas companies develop reserves, enhance production, and reduce costs. Focusing on basins in North America that have long-term growth potential, the company offers a range of oil field services, including drilling, completion and production services and product sales. In 2012 the company was acquired by Superior Energy Services in a $2.7 billion deal.
The $6.2 billion combination expands Superior Energy Services' reach in the oilfield services sector, especially in the North American shale plays. Following the deal's completion Superior Energy Services shareholders owned 52% of the expanded company's outstanding stock; Complete Production Services stockholders, the remaining 48%.
Complete Production Services offers a broad portfolio of completion and production services to enable its customers' ability to develop oil and gas reserves, reduce costs, and enhance production. Its offerings include drilling, wellbore preparation, stimulation, and completion and production services.
In 2011 the company had 315,000 horsepower of pressure pumping capacity to support hydraulic fracturing services in North America.
The company's operations are located throughout the US and Mexico. It operates in the most active oil and gas patches in North America including the Bakken Shale in North Dakota, the Barnett Shale region of North Texas, the Fayetteville Shale in Arkansas, the Haynesville Shale in North Louisiana, the Marcellus Shale in Pennsylvania, the Woodford Shale in Oklahoma. It also is well-postioned in several key basins in the Rockies.
Complete Production Services' long term strategy had been to rely on increasing demand for natural gas exploration (particularly from lucrative shale plays) to drive demand for its products and services, and has grown through acquisitions as well as through organic growth. Its acquisitions have allowed it enter new markets, provide additional services, snd acquire key technologies.
The acquisition by Superior Energy Services gives the company access to its parent's capital resources to expand further.
The company is a subsidiary of Superior Energy Services.
Complete Production Services was formed through the 2005 combination of oilfield services and production support companies (Complete Energy Services, I.E. Miller Services, and Integrated Production Services). – less