West Bengal-based Mining Associates Pvt Ltd has acquired the oil and gas services business of the Australian firm Mitchell Drilling International Pty Ltd in India for an undisclosed amount.
Mitchell’s Indian operations include exploration and production drilling of coal bed methane & coal mine methane blocks and rendering services in the area of geophysical logging, injection fall-off testing, perforation and bridge, as well as setting directional drilling and under reaming services, etc.
Mining Associates is one of the key players in CBM drilling, logging and perforation activities. These are specialised downstream services and there are limited players in the Indian market. Other prominent players include John Energy, South West Pinnacle and Essar Oil, among others.
Mining Associates provides services such as diamond core drilling, non-core drilling, CBM drilling, geophysical logging, drilling & grouting work and rigid pipe wrench. The firm is led by its managing director RB Bansal.
“Mitchell Drilling was in talks with more players, both national and global. However, the deal got finalised with Mining Associates as it offered strategic and synergistic benefits to them and was commercially optimal for Mitchell,” said Rohit Goyal, associate director of Nangia Advisors who advised Mitchell on the transaction.
(Edited by Sanghamitra Mandal)