The acquisition will complement Stratagraph’s existing portfolio by adding nearly 20 mud logging units to the company’s fleet. TDS, a mud logging and consulting services company based in Oklahoma City, will expand Stratagraph’s logging capacity to meet growing client needs and widen its regional footprint. The acquisition brings with it well-maintained units ready for immediate deployment, as well as an operational office in Oklahoma City. The integration of TDS into Stratagraph complements the launch of the company’s new geosteering and production chemical divisions, StrataSteering and StrataChem.
Ashby Pettigrew, president of Stratagraph, stated: “Acquiring TDS is a transformational transaction that aligns perfectly with our growth strategy by expanding the organisation’s scale, diversifying our regional footprint and strengthening our financial portfolio. Additionally, the acquisition provides Stratagraph with the ability to expand our services to new clients in the Oklahoma and Ark-La-Tex regions, while exponentially increasing our fleet to meet the growing demands of our current customers.”
William Hagan, Stratagraph’s CEO, said: “TDS is a company whose vision and goals closely align with the core principles that my father laid down when he formed this company 60 years ago. This acquisition will play an important role in expanding and improving processes for the company, our employees and our customers. This is one of the many strategic initiatives Stratagraph has taken to further grow our reputation as a global leader in the geological services sector and ensure the success of this organisation for many more years to come.”
David Record, former president of TDS, will continue to serve as a consultant to ensure the smooth transition of TDS into the Stratagraph family. Record commented: “Together, our companies embody more than 100 years of combined experience in the geological services industry and a shared commitment to traditional, honest operating values. Through this strategic acquisition, we will continue to identify new partnerships and opportunities to bolster Stratagraph’s existing international reputation in providing quality geological services.”
Read the latest issue of Oilfield Technology in full for free: Issue 2 2021
Oilfield Technology’s second issue of 2021 starts with a report from KPMG that examines the outlook for the Scottish oil and gas sector. The rest of the issue is dedicated to articles covering the offshore supply chain industry, offshore asset integrity, expandable liner technology, advances in drilling, data security, flow control, EOR and methane emissions.
Exclusive contributions come from Tata Steel, EM&I Group, 3X Engineering, Enventure Global Technology, Varel Energy Solutions, Adrilltech, Tendeka and more.
Read the article online at: https://www.oilfieldtechnology.com/product-news/05072021/stratagraph-acquires-technical-drilling-services/
You might also like
The well was drilled by the ‘Deepsea Stavanger’ drilling rig, about 25 km southwest of the Oseberg field in the North Sea and 150 km west of Bergen.