Welltec has completed the part acquisition of a downhole plug business derived from Northstar Downhole Specialists.
The agreement is
centered around the ODIN High-Pressure High-Temperature plug – the only
retrievable bridge plug on the market validated to seal differential pressures
up to 15,000 psi.
Originating as
Northstar Drillstem Testers, the proprietary technology is developed by a
family-owned company with more than 50 years of expertise, creating a
partnership that accelerates the growth of Welltec’s Downhole Isolation segment
introduced just 30 days ago, adding high-pressure high-temperature (HPHT)
capability.
“When we introduced
Downhole Isolation at the beginning of the year, we stated our ambition to
scale quickly, and we meant it. With an added focus on downhole plugs, this
agreement is an important step toward building a comprehensive,
industry-leading portfolio for reservoir isolation,” says Tommy Eikeland -
Chief Commercial Officer of Welltec. -TradeArabia News Service
