Superior Energy Services (Superior) has announced the closing of its previously announced acquisition of Abaco Energy Technologies (Abaco), a global leader in proprietary power section technologies for downhole drilling, completion and remediation applications.

The transaction represents a significant step in the continued growth of Superior's Wellbore Technologies segment, enhancing the company's portfolio of specialised bottom hole assemblies (BHAs) and expanding its ability to deliver high-performance, mission-critical products to customers worldwide.

"We are excited to officially welcome Abaco to Superior," said Dave Lesar, Chairman & CEO of Superior Energy Services. "Integrating Abaco's best-in-class manufacturing capabilities and innovative elastomer technologies strengthens our Wellbore Technologies platform and further enhances the value we bring to our global customer base."

Founded in 2013, Abaco is recognised for its industry-leading rotors, stators and aftermarket reline services, supported by a robust portfolio of patented elastomers and proprietary designs.

"Joining Superior marks an important milestone for Abaco," said Ken Babcock, Founder and CEO of Abaco. "Superior's scale, resources and global reach provide an exciting foundation for our next phase of growth."

"The close of this transaction expands our ability to serve customers with greater efficiency and more integrated solutions," added Dan O'Sullivan, Chief Operating Officer of Abaco. "We look forward to contributing to Superior's strong portfolio and advancing industry-leading technologies together." -TradeArabia News Service