One of the outcomes of this process was the identification of two product lines, namely pressure pumping and completion services carried on by the Fleet Cementers
and Polar Completions divisions respectively, as being not core to the segment's ongoing growth initiatives.
This was a reflection of increased activity in all of the markets served by our oilfield services subsidiary, along with contributions from the new market we entered with the acquisition of Powder River Cementers
in August 1999.
Restructured its Powder River Cementers
Acquisition agreement to pay
The $2 million was used to acquire the Green River Basin property, provide working capital, and fund the acquisition of Powder River Cementers
Ross said this property is an ideal acquisition candidate for Infinity because it allows the company both to make use of the experience it gained from its involvement in the Raton Basin of Colorado and to use the oilfield services infrastructure it gained in Wyoming through its recent acquisition of Powder River Cementers