The terms of the agreement have not been disclosed.

Prairie Petro-Chem will be integrated into the Clariant Oil Services business, following the acquisition.

The acquisition is expected to enhance Clariant’s presence in the Bakken Shale area located in North America.

Clariant global head of Oil & Mining Services business unit Christopher Oversby said the acquisition will strengthen the company’s position as a top-tier global provider of production chemicals and services and greatly enhances their capabilities within North America

Prairie Petro-Chem general manager Brent Frehlick said they will work with Clariant to capitalize on the additional opportunities created by the combination of their collective strengths.

Prairie Petro-Chem serves approximately 7,000 oilfield sites, representing more than 50% of the southern Saskatchewan and southern Manitoba market and achieved sales of approximately C$30 m ($30.9m).