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Parker Wellbore launches with plans for expansion into new markets

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Oilfield Technology,

Parker Wellbore — the re-energised integration of Parker Drilling, with subsidiaries Quail Tools, and iTS Energy Services — has launched with plans for expansion into new markets, geographies, and sectors to provide advanced subsurface wellbore construction solutions for modern transitioning energy markets.

The alignment of the three companies under Parker Wellbore’s new fully-integrated global structure empowers the delivery of a comprehensive range of Parker Wellbore’s global technology-enabled products and services, optimising performance and minimising risk to both traditional hydrocarbon and energy transition applications, including geothermal, well abandonment and CCUS sectors.

“Parker Drilling internationally, Quail Tools in the U.S., and iTS in Europe and the Middle East have been recognized for many years as leading brands in their respective fields among their customers – from drilling rigs and intervention services to downhole tool and equipment rental,” said Parker Wellbore CEO, Sandy Esslemont.

“But the time is right to consolidate our combined offering so that new and existing customers across the subsurface energy landscape fully benefit from the broad scale of our integrated capabilities in wellbore construction.”

As a growing employer, Parker Wellbore anticipates creating 500-700 new jobs. Parker Wellbore currently operates in more than 20 countries with an established global platform well-suited for clients requiring global collaboration and local expertise.

In line with its growth, Parker Wellbore will deliver its drilling operations and management services – already established in the Arctic, Sakhalin Island, and Atlantic Canada – to new offshore locations including the North Sea, the Gulf of Mexico, and internationally, with well abandonment across mature basins, a key new focus. Parker Wellbore will leverage its rich history in geothermal to target opportunities in Indonesia and East Africa.

The company, with a multi-million dollar technology development budget, has a core technology and engineering services group focused on automation and the advancement of digital real-time operational data surveillance and analysis to reduce HSE risks and optimise operational and environmental performance.

Esslemont added: “The energy transition is here, now and Parker Wellbore through integrated proactive participation sees this as an opportunity for growth. Parker Wellbore is ready to help solve the subsurface energy challenges of today and tomorrow, wherever and whatever they may be.”

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