Gulf Oil and Gas accountACCOUNT

Rubicon Oilfield Acquires Tercel Oilfield Products

Source: www.gulfoilandgas.com 5/10/2016, Location: Middle East

Rubicon Oilfield International (Rubicon) has acquired Tercel Oilfield Products (Tercel), an oilfield products company recognized for delivering valuable drilling and completion technologies, from Lime Rock Partners. Terms of the transaction were not disclosed.

This transaction establishes Rubicon's global platform for delivery of well construction solutions. Backed by a significant capital commitment from Warburg Pincus, a leading global private equity firm, Rubicon will invest in the accelerated growth of Tercel product lines, enabling Tercel employees around the globe to deliver even greater value to their customers.

"We are extremely excited by the opportunities this transaction creates. The combination of Tercel's highly talented employees and industry recognized technologies with Rubicon's financial strength will deliver compelling value to our customers around the world," said Mike Reeves, President and Chief Executive Officer of Rubicon. "The dedication, passion and urgency of our now-expanded Rubicon team will ensure we fulfill our commitment to deliver Practical Innovation™ in support of our clients as they explore and produce energy in ever more complex environments."

Tercel's broad portfolio of downhole well construction products is widely acknowledged for innovative design yet simple and effective performance, enabling customers to achieve their drilling and completion goals with minimal risk and maximum efficiency.

"We have worked to establish ourselves as the leader in torque and drag reduction in the construction of horizontal and extended reach wells. Our Practical Innovation approach to product development and service delivery is unmatched in the industry. We are very excited to join Rubicon. This will provide additional growth opportunities for Tercel's products and its employees," said Hossam Elbadawy, Chief Executive Officer of Tercel.

"Rubicon is committed to growing its world class oilfield products organization, providing exceptional service and solutions in a challenging industry environment," said John Griggs, Rubicon Chief Financial Officer. "Today's announcement represents the first step toward this commitment and we are confident that we will continue to achieve shared success in our partnership with Tercel."

Downhole Completion Equipment >>

Downhole Completion Equipment News in United Arab Emirates >>

Qatar >>  8/4/2020 - Air Products, the world’s leader in liquefied natural gas (LNG) technology and equipment, has been selected to provide its proprietary AP-X® Natural G...
United Arab Emirates >>  7/28/2020 - GMS announces the successful completion of its first Well Intervention workscope, utilising the company's unique Cantilever Workover System, installed...

United Arab Emirates >>  7/27/2020 - The Abu Dhabi National Oil Company (ADNOC) announced its agreement to the transfer of rights in its Lower Zakum and Umm Shaif and Nasr offshore conces...
United Arab Emirates >>  7/15/2020 - The Abu Dhabi National Oil Company (ADNOC) has closed its $20.7 billion gas pipeline infrastructure investment deal with a global investor consortium ...

Related Categories: Downhole Completion Equipment  Downhole Drilling Tools  Downhole Survey  Earth Resistivity Meters  General  Line Locators/Electro-Magnetic  Seismic Energy Sources  Seismographs  Sensors  Well Logging  Well Testing Equipment 

Related Articles: Downhole Completion Equipment  Downhole Drilling Tools  Downhole Survey  Earth Resistivity Meters  General  Line Locators/Electro-Magnetic  Seismic Energy Sources  Seismographs  Sensors  Well Logging  Well Testing Equipment 


United Arab Emirates Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.