Weatherford Acquires the Assets of Elite Energy Products
HOUSTON, August 11, 2015 – Weatherford International plc announces the acquisition of the assets of Elite Energy Products, a North American oil and gas manufacturing and service company that designs and manufactures rotating control devices (RCD) and other specialty drilling equipment.
Elite Energy Products offers an existing infrastructure and manufacturing capacity allowing Weatherford to extend the scope of its land RCD and managed pressure drilling (MPD) technology and services to include original equipment manufacturing (OEM) RCD sales to rigs for permanent installation.
Weatherford Secure Drilling Services is the recognized leader in underbalance and MPD technology and services worldwide, and RCDs are a cornerstone technology that enables MPD operations. Traditionally a rental and services business, the MPD market is growing as managed pressure techniques are being adopted as a conventional method to increase productivity and well integrity. As a result, demand is growing for integration of RCD and MPD equipment into rigs.
“The addition of Elite Energy Products gives us the capacity to provide RCDs for permanent installation for land operations,” said Iain Cook, Vice President of Weatherford Secure Drilling Services. “This acquisition will position us to better serve the market by seamlessly adjusting to client preferences and needs.”
The SafeShield® RCD series will continue to be the primary solution for the Weatherford rental and service business.
About Weatherford
Weatherford is one of the largest multinational oilfield service companies providing innovative solutions, technology, and services to the oil and gas industry. The Company operates in more than 100 countries and has a network of approximately 1,350 locations, including manufacturing, service, research and development, and training facilities and employs approximately 45,000 people. For more information, visit www.weatherford.com.
Contacts:
Wuen Fung Hor, Director—Corporate Marketing and Communication
Sandra Pham, Communications Specialist
+1.713.836.7467
