SPL Completes Sale of Environmental Division to Accutest Laboratories

SPL refocuses on petroleum service offerings by selling environmental division

Dec 07, 2010, 06:18 ET from Southern Petroleum Laboratories, Inc.

HOUSTON, Dec. 7, 2010 /PRNewswire/ -- Southern Petroleum Laboratories, Inc. announces that it has reached an agreement to sell the assets of its environmental laboratory division to Accutest Laboratories, marking a new phase for the sixty-six year old company that was founded in the petroleum industry.

SPL has long been a leader in the petroleum and environmental testing industry, with its largest laboratory facilities in Traverse City, Michigan, Lafayette, Louisiana, and Houston, Texas. But in light of the economic downturn, SPL had been evaluating its objectives and the company's future direction.

"It was about this time that Accutest approached us with an offer to buy. We sat back and took a good look at our long range vision for the company and decided that it was in our best interest, and also the best interest of our clients, to consider the offer," said Herb Brown, CEO and President of SPL.

Citing the desire to focus on its core business, SPL also recently announced the sale of its fabrication facility in Dallas, Texas to Dralco Systems. Divesting of these divisions will allow SPL to direct full attention to the petroleum marketplace.

"These strategic moves will allow us to focus on our strongest attributes -our petroleum analytical and measurement services for the onshore, Gulf of Mexico and international markets," said Craig Falgout, Executive Vice President of SPL.

Accutest is a rapidly growing, environmental testing provider focused on quality, customer service and superior electronic data deliverables. They are a full service, independent testing laboratory successfully delivering legally defensible data for more than 50 years. Accutest's full range of environmental analytical services complements the current offerings of SPL's environmental division, allowing for a seamless transition.

The two companies will also work in partnership to handle client projects that require both environmental and petroleum services. "In utilizing each other as subcontractors, we can ensure that our clients will receive the best that each company has to offer," said Joel Grice, Regional Director of Accutest. "It's a win-win situation for the client."

About Southern Petroleum Laboratories, Inc.:

Established in 1944, SPL was one of the first major suppliers to service the exploration & production, petrochemical, refining, pipeline and retail markets with petroleum and environmental testing services. Today, SPL is recognized globally as an industry leader in oil and gas measurement, allocations, auditing, and laboratory services. The company has performed work throughout the United States as well as international markets that include the China Sea, Kuwait, Libya, Mexico, Peru, Saudi Arabia, and Yemen.

As a top supplier in the market sector, SPL's hydrocarbon services include testing of gas and liquid samples, refinery gases, green house gases, sulfur compounds, petroleum fingerprinting, and forensic analysis. SPL field services include liquid and gas measurement accounting, allocations, and consulting services. With over 60 years of accurate analysis and exceptional customer service, SPL has proven that it is a sustained leader in the industry.

For more information about SPL, please visit their website at www.spl-inc.com.

Contact:


Debbi Romero

Director of Marketing

Southern Petroleum Laboratories, Inc.

Phone: 337-288-8894

www.spl-inc.com



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SOURCE Southern Petroleum Laboratories, Inc.



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