Lufkin Industries has announced the purchase agreement with Pentagon Optimization Services on 12 August 2011.
Lufkin Industries president and CEO John Jay Glick said the acquisition expands the company’s business in Canada.
"It also improves our existing plunger lift product portfolio, and provides entry to the well optimization, engineering and testing services market, which is highly complementary to our Automation strategy," Glick said.
Canada based Pentagon is a well optimization company serving the oil and gas industry that provides a wide range of products and services including plunger lift systems and well engineering and testing.
Lufkin Industries sells and services oilfield pumping units, well automation systems, gas lift and plunger lift systems, foundry castings and power transmission products across the globe.
