Logan International has announced that Logan Oil Tools has purchased certain assets from Smith International.
The assets include inventory, the rights to manufacture and sell HE fishing tools and certain intellectual property including the use of the trade names ‘Houston Engineers’ and ‘HE’.
The HE tools are highly specialised tools that are primarily used to free and remove downhole tools and equipment in connection with workover or intervention services.
President and CEO, David MacNeill, commented: “We believe this transaction is consistent with our strategy of being a leading provider of downhole tools and adding quality products to our core businesses.
“The HE fishing tools are well known by our customers and have a reputation for design excellence and superior performance. In addition, we feel that this will simplify our customers’ ability to gain access to the HE products that may not have been available to them in the past.
“This acquisition not only expands our core offering of fishing tools but further enhances our reputation for providing superior quality products.”
Logan International provides specialised downhole tools and services to oilfield service companies, drilling contractors and production operators.
Adapted from press release by Katie Woodward
Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/19112014/logan-acquires-downhole-tools-product-line-1828/