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Cascade acquires Vironex

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Oilfield Technology,

Cascade Drilling, L.P. (Cascade) has announced the acquisition of Vironex Environmental Field Services, Inc. Vironex Environmental Field Services, Inc. will operate under the name Vironex Technical Services, LLC (Vironex) and will retain their current corporate identity and operate as a subsidiary of Cascade.

Vironex combines high resolution site characterization with robust in-situ remediation using their Search and Destroy(R) methodology. Search and Destroy(R) combines high resolution contaminant profiling with its destruction using proven in-situ remediation technologies such as chemical oxidation, reduction and bioremediation.

Vironex has five regional operation centres across the country and supports remediation projects at Air Force and Navy Bases as well as large industrial and commercial projects across the United States. Vironex is nationally recognised for their support of military veterans who comprise over half of their staff.

The acquisition of Vironex increases Cascade's ability to provide safe, technically advanced direct push, direct imaging, in-situ remediation and reporting services in the United States. “The two organisations have shared values of safety, client service and technical excellence,” said Timothy Smith, CEO of Cascade. "Adding Vironex gives us the ability to better serve our clients on a national level." "Vironex's team and technical capabilities enhance Cascade's position as the premier North American environmental and geotechnical drilling company," said Christopher Staudt, a Director with Emigrant Capital Corporation, Cascade's majority owner. "This acquisition reflects Cascade's ongoing strategy to identify and partner with the industry's leading companies".

The Vironex acquisition brings Cascade's total rig count to over 265 sonic, air rotary, mud rotary, auger, coring and probe rigs serving clients in all regions of North America. The combined company employs over 590 people in 35 offices nationwide. Terms of the agreement were not disclosed.

Adapted from press release by Joe Green

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