Press Esc to close

WorldOil

World Oil News Center



Herkules acquires a majority of Petroleum Technology Company

STAVANGER -- Norwegian private equity fund Herkules has acquired Norwegian-headquartered oilfield technology specialist Petroleum Technology Company (PTC), which has an operating base in Aberdeen.

Herkules has signed an agreement to acquire a majority of the shares in PTC, and will partner to significantly grow the company, which specializes in gas lift and wellhead integrity for the global oil and gas industry.

PTC is experiencing growth and, as part of the deal, almost $21 million will be injected as growth capital. Herkules is partnering with PTC’s current owners, of whom several are key members of the management team. PTC, which was founded in 2002, expects total revenues of approximately $33 million for 2013.

07/01/2013

 

Bookmark and Share


WO DATA HUB

EngineeringTablesIcon-Large

Engineering Data Tables

World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.

WO SUPPLEMENTS

2013 Fracturing Technology

2013 Fracturing Technology

MEDIA CENTER

By Digital Publisher

Drill Bit Classifier World Oil published its renowned Drill Bit Classifier in September 2013. The Drill Bit Classifier is a comprehensive listing of major manufacturers' d...

ENERGY EVENTS