Snubbing

High Arctic Announces Agreements to Sell its Canadian Well Servicing and Canadian Snubbing Businesses

Retrieved on: 
Monday, July 18, 2022

CALGARY, Alberta, July 18, 2022 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) "High Arctic" or the "Corporation” has entered into an asset purchase agreement with Precision Drilling Corporation (“Precision”) to sell High Arctic’s Canadian well servicing business for an aggregate purchase price of $38.2 million payable in cash (the “Well Servicing Transaction”). Additionally, the Corporation has entered into an asset purchase agreement with Team Snubbing Services Inc. (“Team”) to sell High Arctic’s Canadian snubbing business for 42% of the post-closing total outstanding shares in Team and a note receivable of $3.4 million (the “Snubbing Transaction”).

Key Points: 
  • We take great pride in the development of our Canadian well servicing and snubbing businesses.
  • The transaction will result in the transfer of High Arctics Well Servicing employees and a large majority of support personnel to Precision.
  • Paradigm Capital Inc. is acting as exclusive financial advisor to High Arctic in connection with the Well Servicing Transaction.
  • The Snubbing Transaction includes High Arctics Canadian Snubbing fleet comprising 7 marketable packages and 32 inactive and out of service snubbing units, underbalance hoists and associated support equipment.

Worldwide Hydraulic Workover Unit Industry to 2027 - Strategic Recommendations for New Entrants

Retrieved on: 
Thursday, January 14, 2021

DUBLIN, Jan. 14, 2021 /PRNewswire/ -- The "Hydraulic Workover Unit - Global Market Outlook (2019-2027)" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • DUBLIN, Jan. 14, 2021 /PRNewswire/ -- The "Hydraulic Workover Unit - Global Market Outlook (2019-2027)" report has been added to ResearchAndMarkets.com's offering.
  • According to this report, the Global Hydraulic Workover Unit market accounted for $9.99 billion in 2019 and is expected to reach $15.80 billion by 2027 growing at a CAGR of 5.9% during the forecast period.
  • Hydraulic workover unit is used as a substitute to workover rigs & conventional drilling.
  • Based on the services, the workover segment is going to have lucrative growth during the forecast period due to the highest growing segment in the hydraulic workover unit market.

Global Hydraulic Workover Unit Market to 2027 - Featuring Archer, Basic Energy Services and Halliburton Among Others - ResearchAndMarkets.com

Retrieved on: 
Wednesday, January 13, 2021

The "Hydraulic Workover Unit - Global Market Outlook (2019-2027)" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "Hydraulic Workover Unit - Global Market Outlook (2019-2027)" report has been added to ResearchAndMarkets.com's offering.
  • According to this report, the Global Hydraulic Workover Unit market accounted for $9.99 billion in 2019 and is expected to reach $15.80 billion by 2027 growing at a CAGR of 5.9% during the forecast period.
  • Hydraulic workover unit is used as a substitute to workover rigs & conventional drilling.
  • Based on the services, the workover segment is going to have lucrative growth during the forecast period due to the highest growing segment in the hydraulic workover unit market.

Hydraulic Workover Unit Market Worth $11.0 Billion by 2025 - Exclusive Report by MarketsandMarkets™

Retrieved on: 
Thursday, October 22, 2020

The hydraulic workover unit activities are fundamental requirements while well completion, production, and well abandonment, which creates opportunities for growth of the market.

Key Points: 
  • The hydraulic workover unit activities are fundamental requirements while well completion, production, and well abandonment, which creates opportunities for growth of the market.
  • The above 150 tonnes segment is expected to dominate the Hydraulic Workover Unit Market, by capacity, during the forecast period.
  • View Detailed Table of Content Here: https://www.marketsandmarkets.com/Market-Reports/hydraulic-workover-unit...
    The onshore segment is expected to be the fastest-growing Hydraulic Workover Unit Market, by application, during the forecast period.
  • To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Hydraulic Workover Unit Market.

Hydraulic Workover Unit Market Worth $11.0 Billion by 2025 - Exclusive Report by MarketsandMarkets™

Retrieved on: 
Thursday, October 22, 2020

The hydraulic workover unit activities are fundamental requirements while well completion, production, and well abandonment, which creates opportunities for growth of the market.

Key Points: 
  • The hydraulic workover unit activities are fundamental requirements while well completion, production, and well abandonment, which creates opportunities for growth of the market.
  • The above 150 tonnes segment is expected to dominate the Hydraulic Workover Unit Market, by capacity, during the forecast period.
  • View Detailed Table of Content Here: https://www.marketsandmarkets.com/Market-Reports/hydraulic-workover-unit...
    The onshore segment is expected to be the fastest-growing Hydraulic Workover Unit Market, by application, during the forecast period.
  • To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Hydraulic Workover Unit Market.

Dynasty Introduces New Technology the Predator® Multi - Casing String Section Mill

Retrieved on: 
Thursday, May 28, 2020

The Predator can be run from a conventional rig, rigless or from snubbing units with mud motor drive.

Key Points: 
  • The Predator can be run from a conventional rig, rigless or from snubbing units with mud motor drive.
  • Not damaging outer casing strings while milling inner casing strings is a signature benefit of the Predator tool which is critical to cost effective, permanent P&A operations.
  • said Keith Alexander, Executive VP & COO for Dynasty Energy Services
    Dynasty Energy Services is the global leader in specialized fishing, multi - casing string section milling, plug and abandonment service technology companies.
  • Dynasty's Predator technology significantly reduces the cost and time of plug and abandonment operations and leads to permanent barrier placement, delivering a definitive sealed wellbore at the end of its productive life.

Pre & Post COVID-19 Market Estimates-Hydraulic Workover Units Market 2019-2023 | Increased Workover Operations to Boost Growth | Technavio

Retrieved on: 
Saturday, April 18, 2020

Our hydraulic workover units market report covers the following areas:

Key Points: 
  • Our hydraulic workover units market report covers the following areas:
    This study identifies growing use of laser technology in workover operations as one of the prime reasons driving the hydraulic workover units market growth during the next few years.
  • Hydraulic Workover Units Market 2019-2023: Vendor Analysis
    We provide a detailed analysis of vendors operating in the hydraulic workover units market, including some of the vendors such as Canadian Energy Equipment Manufacturing FZE, Halliburton Co., High Arctic Energy Services Inc., National Oilwell Varco Inc.
  • Backed with competitive intelligence and benchmarking, our research reports on the hydraulic workover units market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
  • Hydraulic Workover Units Market 2019-2023: Key Highlights

Superior Energy Services Announces Strategic Transaction

Retrieved on: 
Wednesday, December 18, 2019

Following the completion of the transaction, Superior Energy will remain a globally diversified oilfield services company built around the following key product and service lines: premium drill pipe, bottom hole assemblies, completion tools and products, hydraulic workover, snubbing and production services and well control services.

Key Points: 
  • Following the completion of the transaction, Superior Energy will remain a globally diversified oilfield services company built around the following key product and service lines: premium drill pipe, bottom hole assemblies, completion tools and products, hydraulic workover, snubbing and production services and well control services.
  • Superior Energy's current Chief Financial Officer, Westy Ballard, will become President and CEO of Superior Energy upon completion of the transaction.
  • INVESTORS AND SECURITY HOLDERS OF SUPERIOR ENERGY SERVICES AND FORBES ENERGY SERVICES ARE ADVISED TO CAREFULLY READ THE REGISTRATION STATEMENT AND JOINT PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION, THE PARTIES TO THE TRANSACTION AND THE RISKS ASSOCIATED WITH THE TRANSACTION.
  • A definitive joint proxy statement/prospectus will be sent to security holders of Forbes Energy Services in connection with the Forbes Energy Services shareholder meeting.

Global Hydraulic Workover Units Market 2019-2023 | Growing Use of Laser Technology in Workover Operations to Boost Growth | Technavio

Retrieved on: 
Monday, October 28, 2019
Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20191028005032/en/
    Technavio has announced its latest market research report titled global hydraulic workover units market 2019-2023.
  • The increase in the number of workover operations will increase the demand for hydraulic workover units over the forecast period.
  • Laser workover systems can deliver high power laser energy to perform laser workover and completion operations in deep boreholes within the earth.
  • Therefore, the use of laser technology in workover operations is increasing which will fuel the growth of the global hydraulic workover units market size during the forecast period.

The global hydraulic workover units market size at a CAGR of nearly 5% during the forecast period

Retrieved on: 
Tuesday, June 25, 2019

Technavio's global hydraulic workover units market analysis considers the application of hydraulic workover units in onshore wells and offshore wells.

Key Points: 
  • Technavio's global hydraulic workover units market analysis considers the application of hydraulic workover units in onshore wells and offshore wells.
  • Global Hydraulic Workover Units Market:
    Companies in the hydraulic workover units industry are significantly investing in improving the extraction of oil and gas from mature fields.
  • This growing trend in the oil and gas industry has increased the use of hydraulic workover units, which is expected to drive the growth of the global hydraulic workover units market size at a CAGR of nearly 5% during the forecast period.
  • For the detailed list of factors that will drive the global hydraulic workover units market size during the forecast period 2019-2023, click here.