ARM Energy Holdings, leading energy services firm, announced this Thursday the acquisition of Boomerang Energy, a Calgary-based energy marketing firm. The acquisition aims to expand ARM’s services portfolio and expertise.
Firstly, Boomerang provides energy marketing advice and services to oil, natural gas; as well as liquified natural gas, sulphur and electricity companies.
Its trading expertise and the leadership of Jeff Smith and Stephen Frank attracted ARM Energy into buying it. Secondly, after the acquisition closes, Boomerang Energy will be an affiliate of ARM, and a team of Boomerang will join ARM.
Thirdly, Boomerang was founded in 2001; since then, the company became one of Canada’s largest physical marketing advisors. Its team has decades of experience in oil, gas, LNG, sulphur and electricity marketing, as said above.
On the other hand, ARM Energy launched its Canadian business in 2014. It is headquartered in Houston, Texas, but also has offices in Denver. As of now, it is a premier producer services firm, active in every sector of the energy value chain across all major North American oil and gas basins.
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ARM Energy will diversify its portfolio with Boomerang
It has an integrated, diversified portfolio that includes Asset Risk Management LLC, a company that provides risk management and hedging strategies for producers. With the acquisition of Boomerang, ARM will significantly expand its offerings.
Consequently, “the acquisition increases ARM’s physical North American footprint by roughly 25%; also increasing its natural gas volumes over 4 bcf/day and liquids to just under 400,000 barrels/day,” the company underlines.
In addition, for Zach Lee, ARM’s CEO, said. “Boomerang is a natural expansion of our Canadian business with accretive physical, financial and strategic capabilities; which allows us to combine our team to provide enhanced services to our clients with Canadian operations. We’re pleased to welcome Boomerang’s customers and highly talented team to ARM.”
Finally, Jeff Smith and Stephen Frank, founders of Boomerang, said. “This combination will enable us to provide broader capabilities for our clients; and also drive our next chapter of growth. We look forward to leveraging the ARM team’s expertise in creating innovative, value-creating solutions to enhance the service to our clients across the Canadian upstream industry.”