Wellbore Integrity Solutions registers to acquire three Schlumberger units

July 24, 2019

Wellbore Integrity Solutions (WIS) has applied to the CADE for authorization to acquire three Schlumberger businesses: Drilco (pipeline), Thomas Tools & Tubular Rental (tool rental and drill pipe) and Fishing & Remedial (equipment for debris removal in wells).

The merger was published on Wednesday (24/7) in the Official Gazette. In the amount of US $ 400 million, the transaction was announced in May this year and is expected to be completed by the end of 2019.

The document, it states that the proposed operation does not generate horizontal or vertical integrations in Brazil.

“WIS does not have any assets other than those required to perform the Proposed Transaction and is therefore not currently operational. Moreover, Rhône Capital companies do not perform any activities related to the Target Business in Brazil. ”

Wellbore is a recent constituted company of 2017, which has no activities in Brazil. It is indirectly controlled by the Rhône Capital Group, a privately owned fund with offices in New York and London.

Schlumberger operates in the wells and subsea production systems markets, among other segments. The group has 76 active service contracts with Petrobras.

Source: BE Petroleo

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.