Downhole Technology, LLC and Resource Well Completion Technologies Inc., have announced about combining on 1st October 2019 to create newly-formed, The WellBoss Company that will be wholly owned by Schoeller-Bleckmann Oilfield Equipment AG.
Downhole Technology is a leading manufacturer of high-quality, composite frac plugs used in plug-and-perf multizone fracturing operations while Resource Well Completion technologies is a leading innovator and developer of market-leading technologies, including a diverse range of completion, well construction, multi-stage stimulation, and well-servicing products.
“We believe combining both businesses into one is a win-win situation for our customers. There is very little overlapping in products offering between the two. On the contrary, we see many complimentary offerings across the board,” stated Gerald Grohmann, Chief Executive Officer, Schoeller-Bleckmann Oilfield Equipment AG.
“This is an incredible opportunity to combine two highly-successful, innovative businesses,” said Jeff McNamara, President of Downhole technology. “WellBoss will be better positioned to increase the velocity of new completion solutions to the market, thereby increasing the value we offer for our oil and gas partners around the world. Our intense focus on solving the oil and gas industry’s completion challenges combined with an execution mindset will separate us from the competition and better serve our customers.”
“WellBoss will be able to offer an extensive sales channel and one of the most diversified completion offerings on the market,” said Colin Atkindon, President of Resource Well Completion Technologies. “Combined with a world-class quality management system and a state-of-the-art innovation pipeline, this venture will allow customers to get more from every completion.”
Jeff Mcnamara will assume the role of President for the WellBoss Company after the finalization of the merger. Colin Atkinson will assume the role of Executive Vice President Global Sales for the new company while will also remain the President of the Canadian subsidiary of the company.
Source: Business Wire
Image Source: Downhole Technologies