Lufkin Industries has sold its North America Downhole business to Q2 Artificial Lift Services, a provider of downhole reciprocating pumps. (Source: Shutterstock)
Lufkin Industries has sold its North America Downhole business to Q2 Artificial Lift Services, a provider of downhole reciprocating pumps. Terms were not disclosed.
“This transition allows us to focus on Lufkin’s core strengths of software, automation, surface equipment and comprehensive service to our domestic and international customers,” Lufkin CEO Brent Baumann said.
Downhole pump and rods assets team members and related customer relationships within North America will transition to Q2.
The acquisition “immediately strengthens our artificial lift products and services and expands our employee roster with highly skilled technical depth,” Q2 CEO Doug Quinn said, and “further expands our ability to provide a complete downhole system for our customer base.”
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