Wellbore Integrity Solutions Acquires Schlumberger's Fishing & Tubulars Operations

Updated 1 year 5 months ago

Schlumberger announced the sales of its Fishing & Remedial, DRILCO, and Thomas Tools to Wellbore Integrity Solutions (WIS) for USD 400 million in May 2019. This includes part of a manufacturing facility on Rankin Road in Houston. After the completion of the transaction, WIS expected to have 1,100 employees and operate in 25 countries. WIS is an affiliate company of Rhône Capital. Initial transaction closing occurred in January 2020 including 16 countries with an additional 9 jurisdictions expected to close in the coming months.