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Enersol is set to acquire a 95% stake in DWS: Adnoc Drilling and Alpha Dhabi Holding’s joint venture Enersol agreed to acquire a 95% stake in US-based energy tech firm Deep Well Services (DWS) for approximately USD 223 mn including performance based payments, according to a press release (pdf).
This marks Enersol’s fourth acquisition this year: The firm picked up drilling visualization and analytics firm EV Holdings for USD 45 mn in August, a majority 51% stake in manufacturing solutions provider NTS Amega for USD 58 mn in July, and majority ownership in US-based Gordon Technologies.
Future plans: Enersol aims to to support Adnoc Drilling’s recent USD 1.7 bn contract, through DWS, to deliver 144 unconventional wells to Adnoc Group by utilizing various available technologies.
About DWS: Established in 2008 in the US, DWS offers advanced energy-sector tech, including patented hydraulic completion units supported by its analytics software. The company also runs globally accredited training programs that enhance safety and operational efficiency.
Adnoc Drilling eyes more GCC acquisitions: Adnoc Drilling is looking to buy companies in Kuwait and Oman as it expands beyond the UAE, with most of its focus now on companies in the region, Bloomberg quotes Adnoc Drilling CFO Youssef Salem as saying.
