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Quinn’s snaps up market leader

Quinn’s Oilfield Supply Ltd. has strengthened its position in a promising oil formation.The Red Deer-based company announced on Friday that its subsidiary, Quinn Pumps Inc., has purchased the outstanding shares of Red Iron Pump & Supply Inc. of Dickinson, N.D.

Quinn’s Oilfield Supply Ltd. has strengthened its position in a promising oil formation.

The Red Deer-based company announced on Friday that its subsidiary, Quinn Pumps Inc., has purchased the outstanding shares of Red Iron Pump & Supply Inc. of Dickinson, N.D.

Red Iron supplies and services rod pumps, with branches in Stanley, N.D., and Medicine Lake, Mont.

A release issued by Quinn’s Oilfield Supply stressed the strategic importance of the acquisition.

“Red Iron is a market leader in rod pump service and supply and is an excellent strategic fit for Quinn’s in an area that will be one of the busiest in the U.S. in the near future, as producing companies develop the Bakken formation, which reaches from southeast Saskatchewan to the northern parts of North Dakota and Montana.”

The Bakken formation is believed to contain billions of barrels of recoverable oil, which has spurred a flurry of drilling activity on both sides of the Canada-United States border.

Quinn’s Oilfield Supply, which was started in Red Deer by Jim Quinn in 1965, has grown into the largest rod pump manufacturer in Canada. It operates from 40 locations in Canada and the United States.

The privately owned company has been headed by Quinn’s son Doug since 1996.