Dril-Quip to acquire OPT

Houston’s Dril-Quip has signed an agreement acquired OilPatch Technologies (OPT) in a US$20 million cash deal.

Founded in 1990 and based in Houston, OPT is a provider of offshore riser systems and components, proprietary threaded connections and other products, with a focus on deepwater Spar and TLP Systems.    

"We welcome OilPatch Technologies and its employees to Dril-Quip and are confident their product offerings will complement and further strengthen our position as a leading provider of dry tree systems and associated riser products," Blake DeBerry, Dril-Quip president and CEO said.

The acquisition is subject to closing adjustments. 

In October, Dril-Quip signed a deal to acquire Houston-based TIW Corp. for approximately $143 million. TIW is a 100-year old manufacturer of consumable downhole products for the global oil and gas market, which provides liner hanger systems and related equipment and services worldwide.

Read more:

Dril-Quip to acquire TIW for US$143 million

Current News

TotalEnergies Books Noble Viking Drillship for Oceania Job

TotalEnergies Books Noble Viki

Zenith Energy Gets On Board UK Gas and Hydrogen Storage Project

Zenith Energy Gets On Board UK

UK: Renewables Workforce to Grow to 42,000 In Next Five Years

UK: Renewables Workforce to Gr

Shell Hires Subsea7 for Work at Aphrodite Development off Trinidad

Shell Hires Subsea7 for Work a

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine