NTS Group has acquired Amega West Services, a market leader in the manufacture, repair and rental of legacy and specialized drilling equipment used in offshore and land-based oil and gas extraction applications, from Carpenter Technology Corp. on Oct. 12. With headquarters in Houston and founded in 2007, Amega West has production and service plants in the U.S., Canada and Singapore.
With this acquisition, NTS Group establishes itself as a global leader in manufacturing of drilling, subsea, top-side and process components, repair of MWD/LWD and drilling equipment, as well as rental of legacy and specialized BHA drilling tools. A supply agreement has been signed with Carpenter Technologies to ensure the continued use of Carpenter’s proprietary non-magnetic alloys.
NTS Group will now have eight manufacturing and service facilities across strategic oil and gas locations.
Established in the UAE in 2006, NTS Group was acquired in 2019 by a joint venture between TUBACEX and ADQ’s Senaat with the goal of creating a global specialist manufacturing and services company for drilling tools and equipment.
“The addition of Amega West Services transforms NTS Group from a regional to a global service provider to the oil and gas sector. From our strategic hubs, we will combine the strengths of both companies to offer customers an unrivalled range of manufacturing, repair and rental options. As a supplier of integrated, high-tech solutions, we are looking forward to building even closer ties with key customers,” Paul McMillan, NTS Group CEO, said.
NTS’s services will be configured under a range of innovative contracting options to include Global Framework Agreements, Local Repair / Manufacture hubs and Stock Management Programs, aimed at reducing cost, improving lead times and increasing availability of equipment, while maintaining the highest levels of quality and service.
“Amega team is thrilled to join NTS Group. Collectively we will further enhance our strong position in North America and expand as a global force with a complementary portfolio. Our customers are equally excited about the acquisition as we transform from a supplier to a partner and total solution provider. We look forward to a bright future,” Reddy Godula, Amega West president, said.
Jay Graham is back after the successful sale of WildHorse Resource Development to Chesapeake Energy with a new venture—this time in the Permian Basin.
Service companies continue to innovate to improve operational efficiencies in the water management sector.
Both Chevron and Halliburton had already halted many activities in Venezuela and Halliburton said the decision will not have a material impact on its financial condition.