WoldWide Drilling Resource

9 WorldWide Drilling Resource ® JULY 2019 Sponsorship available for special position Hot Off the Press page. Acquisition Announced Wellbore Integrity Solutions (WIS), an affiliate of private equity firm Rhône Capital, and Schlumberger announced an agreement for WIS to acquire the businesses and associated assets of DRILCO, Thomas Tools, and Fishing & Remedial services, along with part of a manufacturing facility located in Houston, Texas. Pending regulatory approvals and other customary closing conditions, it is expected to finalize by year-end. WIS will operate the businesses as a combined global, customer-focused provider of drilling tubulars services; tubing work strings, rentals and acces- sories; and fishing and remedial services for drilling, intervention, and abandon- ment activities for the oilfield industry. “Our customers will benefit from our expansion as an independent service and product supplier with a strong global footprint,” said David MacNeill, CEO of WIS. “We are very proud to acquire these historic companies that have been de- livering quality products and services to the oil and gas industry for over 60 years.” Kristi Vilay, president, Schlumberger’s Bits & Drilling Tools added, “The DRILCO, Thomas Tools, and Fishing & Remedial businesses will have greater opportunities for growth uniquely positioned within a strategic buyer’s portfolio. This divestiture will enable Schlumberger to focus on its core drilling strategy, including the development of automation technologies that can be enhanced by digital enable- ment.” After completion of the transaction, WIS will have close to 1100 employees and operate in 25 countries. For a link to this website, visit: worldwidedrillingresource.com