Gibson buys Louisiana environmental services firm for US$445 million

CALGARY – Gibson Energy Inc. has agreed to buy a Louisiana-based environmental and production services firm for US$445 million.

Privately held Omni Energy Services Corp. is active in major oil and natural gas liquids-rich formations across the United States.

The acquisition, which is expected to close by the end of the month, will add nearly 1,100 employees to Gibson’s workforce.

Gibson says the deal will take advantage of an industry trend toward greater environmental scrutiny of oil and gas drilling.

Gibson also plans to increase its quarterly dividend by four per cent to 26 cents per share once the deal closes.

The US$445-million purchase prices assumes Omni will have US$43.5 million, no debt and no cash at closing.