Abrado Wellbore Services said June 22 it has acquired the specialty tool product lines of Deltide Energy Services LLC for an undisclosed amount.
As part of the deal, Abrado takes full ownership of Deltide's proprietary Medusa section milling technology, Rattler suite of downhole magnets, Mud Viper surface ditch magnets and suite of fishing tool services.
Abrado specializes in wellbore cleanout and video diagnostics services. The acquisition of Deltide's specialty downhole tools and expertise in section milling, fishing and magnetics will allow the company to expand into the plug and abandonment market, said Sandy Esslemont, CEO of Abrado.
"Being able to diagnose the issue with downhole video, apply the appropriate Abrado cleanout/fishing/milling solution and validate job success with video, all in the same 'toolbox' is unique to Abrado," Esslemont said in a statement.
Headquartered in Houston, Abrado is a portfolio company of Energy Ventures. Deltide is based in Harvey, La.
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