Lubrizol acquires Weatherford’s oilfield chemicals business in US, Canada

Lubrizol has completed the acquisition in the US and Canada of Weatherford International’s global oilfield chemicals business, known as Engineered Chemistry, and its US drilling fluids business, known as Integrity Industries. 

Closings in the rest of the world will occur throughout 2015. The transaction was announced on December 1, 2014.

With the close of the transaction, Engineered Chemistry and Integrity Industries, along with Lubrizol’s legacy energy and water business and Berkshire Hathaway portfolio company, Lubrizol Specialty Products, will form Lubrizol Oilfield Solutions, a new business segment for the company. 

Lubrizol Oilfield Solutions joins the company’s other business segments, Lubrizol Additives and Lubrizol Advanced Materials. 

Within this new segment, Engineered Chemistry and Integrity Industries will operate substantially as they do now, according to company officials.