AFGlobal Corp. has announced that it has agreed to acquire Managed Pressure Operations (MPO), a subsidiary of MHWirth. As a vertically integrated supplier, this acquisition further solidifies the company's position as a specialised original equipment manufacturer (OEM). The resulting combination of companies creates the most complete deepwater managed pressure drilling (MPD) offering currently available in the market, with technology covering both onshore and offshore applications.
"Over the last several years, we've established ourselves as a premier provider of oil and gas products and services, including land-based pressure pumping equipment, deepwater riser gas handling systems and subsea solutions. This acquisition will further support our strategy to create an increasingly differentiated business designed to support our clients' drilling, stimulation and production needs both today and in the next phase of our industry's journey," commented Curtis Samford, President and CEO of AFGlobal Corp.
The new business group within AFGlobal's oil and gas segment will be known as Advanced Drilling Systems, and will cover riser gas management systems, early kick/loss detection, managed pressure drilling, dual gradient drilling and continuous circulation.
"Providing the industry with a flexible yet standardised solution for MPD mandates that all equipment works together in an intentional and holistic manner. Simply put, our systems are designed to remove complexity on the rig and streamline operations while providing reliable, best-in-class equipment, service and support," commented Mark Mitchell, President of Oil & Gas for AFGlobal. He continued, "The changes coming to our industry will be transformational, not transitional and our Advanced Drilling Systems will bring a new level of fit-for-purpose, modular technology to the market."
"As a result of an exhaustive search, AFGlobal was determined to be the best fit for our MPO business, given their market-leading position and experience in the MPD space. We are pleased to hand over the technology to AFGlobal with confidence that they are the right partner to take the business to the next level," commented Finn Amund Norbye, CEO of MHWirth.
Edited from press release by Angharad Lock
Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/14072016/afglobal-to-acquire-managed-pressure-operations-2766/