Stallion Inks LOI to Buy Stirling and Continue Expansion in Africa
Stallion Oilfield Services Ltd. announced that it has entered into a letter of intent with the international risk management and loss prevention business of The Stirling Group headquartered in Malta. Stirling, owned and managed by Mike Lord, is a provider of risk and facilities management solutions to the hydrocarbon industry in Africa and the Middle East.
Craig Johnson, Stallion's CEO, commented, "We are excited to take this next step in furthering our international goals. Our marine offshore marketing office in The Netherlands and now this strategic partnership with Stirling uniquely positions us to pursue opportunities in Africa and the Middle East related to increasing investments in the international oil and gas sector. Stirling has an excellent reputation for providing reliable risk assessment and facilities coordination services to top international firms and national oil companies in Europe, Africa and the Middle East. Stirling's services typically lead to additional follow-on services for other infrastructure services which Stallion can provide."
Mike Lord, Stirling's CEO and Founder, will remain with the Company as Senior Vice President of Stallion International. Lord commented, "This strategic combination will not only enhance Stirling's ability to deliver strategic solutions to our blue chip client list but also provide an entree for Stallion's 'Everything but the Rig'capability. With significant hydrocarbon project requirements across the globe, we are uniquely positioned in the North African area to deliver these services with Stallion's resources."
Craig Johnson further stated, "RedMed is a leading provider of turnkey energy and logistics base services in Algeria. We look forward to working to expand our partnership with RedMed to meet the growing needs of Algeria's energy industry."
- Stallion Oilfield Services Strengthens Capital Structure (Feb 03)
- Stallion Lands Deal to House Marathon at Alba (Jun 10)
- Stallion Inks LOI to Buy Stirling and Continue Expansion in Africa (Jun 04)