WorldWide Drilling Resource

13 WorldWide Drilling Resource ® FEBRUARY 2014 ! " # ! WorldWide Drilling Resource ® is the ONLY drilling magazine with more than 1030 years of experience! Send Your Breaking News to: promotions@worldwidedrillingresource.com WWDR /GEFCO Scholarship Winner Announced WorldWide Drilling Resource ® announced the win- ner of its latest scholarship to attend GEFCO’s 18thAnnual Resource Drilling Fundamentals Training Seminar in Enid, Oklahoma. Dylan Logan of Bakersfield, California, was selected from applications we received from around the world. YoungMr. Logan expressed his passion for continuing his fam- ily’s well drilling heritage and he is looking for- ward to attending the seminar. Look for his essay next month! WWDR would like to thank all of this year’s applicants. Breaking News Sandvik AB Acquires Varel International Energy Services Varel International Energy Services, Inc., parent compa- ny of Varel International and Downhole Products, announced an agreement to sell the company to Sandvik AB has been signed. The closing of the acquisition, worth approximately $740 million, is expected to occur within the next few months. In addition to being one of the larger acquisitions in Sandvik’s corporate history, this purchase will be the company’s first major entry into the upstream oil and gas industry. Tomas Nordahl, president of Sandvik Venture said, "This acquisition will provide a great platform to enable Sandvik to enter into drilling solutions in the oil and gas sector... I am very impressed by the Varel team and I am excited about our joint opportunities going forward.”