Expro set to purchase Enhanced Drilling
Expro has entered into an agreement to acquire Norway-based managed pressure drilling (MPD) specialist Enhanced Drilling.
The proposed acquisition will expand Expro’s capabilities, leading to greater efficiency and simplified well architecture in complex formations where conventional drilling approaches are not so effective, the company said.
Enhanced Drilling’s capabilities should also bring earlier involvement in well construction design and planning, Expro added, as it works with clients to improve well delivery and execution certainty, while reducing operational risk.
Total consideration to be paid at closure of the deal (expected in the third quarter) is about $215, plus closing and working capital adjustments.
Enhanced Drilling has delivered proprietary MPD solutions for fields in the US Gulf of Mexico, North Sea, West Africa, Caspian and the Asia-Pacific.
Its technologies are said to help operators manage narrow drilling windows, improve wellbore control and cut non-productive time. The technologies can also simplify well designs by reducing casing requirements, improving overall well construction efficiency, Expro said.
About the Author
Jeremy Beckman
Editor, Europe
Jeremy Beckman has been Editor Europe, Offshore since 1992. Prior to joining Offshore he was a freelance journalist for eight years, working for a variety of electronics, computing and scientific journals in the UK. He regularly writes news columns on trends and events both in the NW Europe offshore region and globally. He also writes features on developments and technology in exploration and production.