Oilfield services company KLX Energy is growing its presence in the US shale market with the $148 million acquisition of Motley Services.
Houston-based KLX is to fund the purchase of Odessa, Texas-headquartered Motley with $139 million in cash and $9 million in common stock. The deal will initially add large diameter coiled tubing services to KLX’s operations in the US southwest, followed by assets in the Rockies and the northeast.
