Halliburton Co. announced Wednesday that it has acquired Tulsa, OK-based Summit ESP, an independent company specializing in electric submersible pump (ESP) technology and services.

Summit, which has more than 500 employees across 30 North American locations, engineers, manufactures and services a full line of ESP and surface pumping systems.

“The acquisition of Summit expands Halliburton’s existing artificial lift capabilities and increases our overall leading position in North America oilfield services,” Halliburton CEO Jeff Miller said. “Summit’s unrivaled service quality, proven technology and U.S. market leadership make it a perfect fit for Halliburton. This accretive transaction accelerates our strategy to deliver leading returns to our shareholders and maximize asset value for...