Schlumberger Ltd. (NYSE: SLB) acquired Peak Well Systems from growth equity investor Summit Partners and the company's founders and management team for an undisclosed amount, Schlumberger said Jan. 5.
Peak Well Systems designs and develops advanced downhole tools for flow control, well intervention and well integrity. The company has offices in the U.K., Australia, the United Arab Emirates and Malaysia.
The addition of Peak’s mechanical and remedial solutions for cased-hole well intervention strengthens the Schlumberger Production Services portfolio with a broader offering of mechanical services to its global customers, the Houston company said.
Peak's technologies will give Schlumberger the opportunity to offer fully integrated well intervention solutions on electric line, mechanical slickline or digital slickline to its customers, Hinda Gharbi, president of the company's wireline group, said in a statement.
Existing Peak customers will continue to have access to the full range of the company's well intervention products as well as Schlumberger's wider distribution network and delivery platform in all global markets.
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