Premium Oilfield Technologies reported today that it has executed arrangements to purchase Global Drilling Support “GDS”. The obtaining of sure of the GDS substances is shut and was taking effect right now as of October 31, 2019, and the securing of a more modest activity of GDS is essential for a different understanding which is dependent upon standard shutting conditions and is relied upon to happen in the main quarter of 2020.
Introduction of Premium Oilfield Technologies:
Established in 2008 by Keith Holliday and Paul Nicholson, GDS is the chief free supplier of custom-made, “all inclusive resource” secondary selling answers for both outsider and GDS produced top drives, giving an exhaustive scope of top drive fix, recertification and redesign administrations.
Through its API Q1 and 8C activities in Houston and Midland/Odessa (USA), Dubai (UAE), and Tyumen (Russia), GDS fixes and recertifies top drives, and furthermore stocks and disseminates spare parts for most OEM top drive producers. GDS additionally keeps an accomplished in-house designing and configuration group that upholds its assembling activities and works with its clients to foster inventive arrangements. Their group of exceptionally prepared assistance specialists positioned all throughout the planet and are accessible for administration calls identified with any mechanical or electrical issue.
Utilizing the information from their experience keeping up with and fixing top drives in the cruelest states of the US shale plays, GDS fostered the “GDM” top drive, which is extraordinarily intended to deal with the high forces, high tensions, and grating muds of the most rebuffing flat wells in the US shale, or the most unfathomable wells of seaward GOM, Saudi Arabia or Africa. GDM licensed top drives use on penetrating apparatuses worldwide and are ending up. The most elevated performing and most dependable top drive frameworks accessible today. GDM top drives, just as other OEM top drives redesigned by GDS, are accessible with the organization’s exclusive rubbing decrease programming and Z Torque innovation, which increment penetrating effectiveness and abatement boring expenses.
Both Mr. Holliday and Mr. Nicholson will stay with the joined organization and will be a fundamental piece of the Premium senior supervisory group. Furthermore, Mr. Holliday has consented to join Premium’s governing body.
Cam Hewell, President and CEO of Premium, says, “For quite a long time I appreciat the work that Keith and Paul have done structure GDS. And accepted that their organization would be an extraordinary expansion to Premium’s emphasis on crucial penetrating hardware. As I have conversed with penetrating clients throughout the long term. I have heard only the most noteworthy commendation for GDS’s way of life of client support, accuracy spare parts, recertification and upgrade administrations, just as the GDM top drive itself. I’m truly eager to have the option to offer these items and administrations through Premium’s US and worldwide organization of at-the-rig penetrating experts.”
Keith Holliday, President and CEO of GDS, said, “Paul and I are eager to join the Premium family. And help add to its colossal development. We anticipate developing our parts business through Premium’s business networks in the USA. Just as adding Premium parts to our business pack abroad. Premium forms excellent parts considering the clients’ advantage, similarly as we have maintained our business. Having known Cam for longer than 10 years. I have the greatest possible level of regard for himself as well as his group. Significantly, our groups have effectively worked together on designing plan projects in the past with extraordinary achievement. We are no aliens to one another. And I am sure our uniting will be a mutually advantageous arrangement for all.”
Works and production:
Premium Oilfield Technologies plans, produces, sells and leases superior boring hardware and extra parts. For the most part engaged around mud siphon liquid end expendables. Mud valves, divergent siphons, shaker screens, Patriot cylinders and top drive expendables. Premium additionally produces and sells the Sur-Lock set-up of protected speedy change mud siphon “add-on” parts. Which definitely diminish the time it takes to change cylinders, valves, seats and liners in a mud siphon. Sur-Lock likewise essentially expands representative wellbeing by killing the requirement for heavy hammers in the parts-change process.
The Premium Sur-Drive washpipe cartridge framework is the main top drive washpipe cartridge framework try to 10,000 psi with water. And run effectively at top strain and rpm in the field. Premium’s Cutter Drilling Systems division leases its exclusive turning control gadgets (RCDs), MPD gags, stream control valves, programming and control mechanization. To administrators fundamentally in the US shale areas. Premium has tasks and stock distribution centers in 12 areas in all of the significant US shale regions. And moreover has activities/stock in Dubai, Saudi Arabia, Kuwait, Oman, India and Mexico.
Premium is settle in Houston and is a portfolio organization of Quantum Energy Partners, a Houston-based private value firm, for instance.
About Quantum Energy Partners
In conclusion, It was established in 1998. Quantum Energy Partners is the main supplier of private value funding to the worldwide energy industry. Having overseen along with its members more than $17 billion in value responsibilities since the beginning. For more data on Quantum. Kindly visit www.quantumep.com or contact Michael Dalton at (713) 452-2110. To examine a speculation opportunity with Quantum, kindly contact Eric Nielsen at (713) 452-2050.
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