Wellbore Integrity Solutions finalizes fishing and remedial acquisitions from Schlumberger
HOUSTON – Wellbore Integrity Solutions (WIS), a portfolio company affiliated with private equity firm Rhône Capital, has completed the acquisition of businesses and associated assets of Fishing & Remedial, DRILCO, and Thomas Tools from Schlumberger. As part of the initial closing, WIS acquired businesses and assets in 16 countries. Another nine jurisdictions are expected to close in the coming months pursuant to the terms of the purchase agreement.
“Today marks the first day of bringing the WIS vision to a reality. Together, we are establishing our company the Wellbore Integrity Solutions way,” says David MacNeill, President and CEO. “Our mission is to be the global leader in wellbore integrity products and services, with a vision to build a global company that enables the consolidation of engineering, product development, manufacturing, and wellsite services to meet our customers’ needs.”
“We are committed to maintaining our customers’ wellbore integrity throughout the well lifecycle and do not take this commitment lightly,” says Ronald Melnyk, chief operating officer. “To meet this commitment, we are proud to offer products and services that include but are not limited to the TrackMaster Whipstock Systems, ProCise, ProMill, and ProLatch-N, all DRILCO products, and the complete rental services from Thomas Tools.”