Oilfield services firm Archer has signed a share purchase agreement to acquire isol8, a well technology company specializing in alloy-based barrier solutions and…
Published
Oilfield services firm Archer has signed a share purchase agreement to acquire isol8, a well technology company specializing in alloy-based barrier solutions and advanced materials used in well completions, intervention and plug and abandonment (P&A) operations.
Archer said the acquisition will expand its plug business and strengthen its subsea and rigless P&A capabilities.
Isol8 develops alloy barrier technologies and metal element systems designed for use across the well lifecycle.
“This acquisition brings valuable technologies and talent into Archer. Isol8’s solutions will strengthen and expand our leading plug portfolio and advance our subsea and rigless P&A offering. The acquisition reinforces our ability to deliver safe, efficient, and scalable well abandonment solutions to our global customers,” said Dag Skindlo, Archer’s Chief Executive.
“Archer’s global reach and established customer base create a strong platform to scale deployment of isol8’s technologies across the entire well lifecycle. Together, we have the opportunity to expand adoption of our existing alloy barrier products and accelerate the commercialization of our emerging metal element technology,” added Andrew Louden, Founder and CEO of isol8.
The transaction is subject to customary regulatory approvals
Content Original Link:
" target="_blank">
