SIMMONS EDECO SELLS EUROPEAN WELL INTEGRITY SERVICES DIVISION
6th Dec 2018
Capital Injection to Fuel Drilling & Workover Initiatives in Mexico, Latin America
CALGARY, Canada – December 7, 2018 – SIMMONS EDECO, a leading supplier of onshore drilling and workovers, wellhead maintenance services, and asset integrity solutions to the global oil and gas industry, today announced that it has sold its well integrity service division, SIMMONS EDECO Europe.
Drilling & workover services take center stage
According to the Calgary-based oilfield service company, the decision to sell the division is timely. “The sale coincides with strategic plans to focus our people and capital on our core business of onshore drilling and workover services for global energy customers,” said Niels Versfeld, CEO of SIMMONS EDECO. “Given the momentum that we are experiencing in Mexico, the capital injection will allow us to bolster our core service capabilities and more rapidly pursue additional opportunities there, and throughout Latin America.”
For the past three years, SIMMONS EDECO has been providing drilling and workover services in Mexico, most recently on the Tecolutla and Amatitlan blocks in Veracruz, Mexico. SIMMONS EDECO supports customers in the region from its operations base in Poza Rica de Hidalgo in Veracruz.
SIMMONS EDECO, which has been providing global energy solutions for more than 56 years, finalized the sale to Well-Centric Oilfield Services, a member of the FrontRow Energy Technology Group, in late November 2018. “The combination of our Well Integrity business and Well-Centric creates the largest independent supplier of wellhead integrity services in the UK,” said Niels Versfeld, CEO of SIMMONS EDECO. “We are proud of the business we created in Europe and know that the new combined company, Unity, will build on the success of both businesses,” said Niels Versfeld, CEO of SIMMONS EDECO.
SIMMONS EDECO has executed deep drilling operations for oil, gas, gas storage, geothermal, coal and deep geoscientific investigations for major operators and independents throughout the world.
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