Rubicon acquires World Oil Tools
Rubicon Oilfield International has acquired the assets and operating business of World Oil Tools Inc.
HOUSTON – Rubicon Oilfield International has acquired the assets and operating business of World Oil Tools Inc.
Terms of the transaction were not disclosed.
Established in 2000 and headquartered in Calgary, World develops and delivers inflatable products for use onshore and offshore.
Rubicon said that the transaction adds further strength to its portfolio of products in the Completions Solutions business segment, enabling the company to offer inflatable packers, external casing packers and drillstem testing technology to customers around the world.
“We are excited to welcome the World team to Rubicon and believe this transaction will significantly enhance our participation in the downhole completions market. Rubicon is well positioned to advance the reach of World’s product offering into new and under-represented geographies,” said Michael Reeves, president and CEO of Rubicon.