Leading Full-Cycle Service Provider Created by Expro and Frank's Combination

Expro Group, a privately-held international energy services company with a strong market position in well access and well flow optimization, and Frank's International, a global oil services company that provides a broad range of highly engineered drilling and completions solutions and services, announced a definitive agreement under which the companies will combine in an all-stock transaction.  Upon the closing of the transaction, Expro shareholders will own approximately 65% of the combined entity, with Frank's shareholders owning approximately 35%.

The combination brings together two companies with decades of market leadership, best-in-class safety and service quality performance, exceptional talent and global capabilities in well construction, well flow management, subsea well access, well intervention and production services.  With a broad range of complementary, highly specialized equipment and services, the combined company will provide customers with cost-effective, innovative solutions across the well lifecycle, driving a stable, diverse revenue mix.  The combined company will have a strong, debt-free balance sheet, robust order backlog, more than $1 billion of pro forma annual revenue as well as an ability to generate through-cycle free cash flow and growth.

Expro and Frank’s expect the transaction to close during the third quarter of this year.  They noted the combined company’s operational headquarters will be in Houston, Texas, with an operational presence in Lafayette, Louisiana, Aberdeen, U.K., and other key locations worldwide.  The firm’s principal executive office will be in the Netherlands.