Richardson acquires drilling fluids manufacturer
Richardson International Limited announced the successful purchase of Control Chemical Corporation, a specialized manufacturer of environmentally safe drilling fluids and proprietary vegetable oil-based lubricants. Prior to this acquisition, Richardson was a minority shareholder in the company and has supplied raw ingredients for their products for more than 30 years.
Based in Winnipeg, Manitoba, Richardson International Limited is Canada’s largest agribusiness and is recognized as a global leader in agriculture and food processing.
“This partnership will be beneficial to both companies, as historically speaking, Richardson is our largest supplier of crude canola oil,” said John MacPhail, retiring principal, Control Chemical Corporation. “With petroleum oil prices increasing, we are in a unique position to reach new and more expansive markets for environmentally safe downhole, torque-reducing lubricants.”
Control Chemical manufactures all drilling fluids — some of which are proprietary and marketed under the Matex brand name — from its 50,000-square foot facility in Calgary, Alberta, Canada. Matex products include downhole lubricants, specialty polymers, foams, tool lubricants, blast hole stabilizers, thread compounds, and non-alcohol freeze control fluids. These products are commonly used in diamond drilling, horizontal directional drilling and rotary and percussive drilling operations. The company has a network of distribution partners in North America, South America, Australia, Africa, South East Asia, Mongolia, Scandinavia, the United Kingdom, Turkey, and Russia.
“As a global leader in agriculture and processing, this is a unique opportunity to diversify our business and expand into innovative products derived from the core commodities we handle,” said Darrell Sobkow, senior vice-president, Processing, Food, and Ingredients. “Control Chemical has a strong reputation and its Matex brand is recognized for superior performance. Our companies are well-aligned and positioned for future growth.”
Richardson’s oilseed crush plant in Lethbridge, Alberta, Canada, will continue to supply crude canola oil stock for Control Chemical products. With a plant oil composition capable of withstanding high temperatures, canola oil-based lubricants are environmentally safe and are recognized for extending tool lifespan, optimizing production processes, and improving drilling core recovery and pathway stabilization.
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