American Oil and Gas Reporter - August 2022 - 92

IndustryFocus: Companies, People and Products
New CORTEC Plug Catcher
Guards Production Chokes
HOUMA, LA.-CORTEC has introduced
a compact wellhead plug catcher
that is installed directly between the wellhead
and the production choke. The catcher's
internal screen filters out large debris
to prevent it from clogging or damaging
the choke, which the company says will
improve choke life and performance.
" Plug and other debris catching devices
have been used in the industry for many
years now, but CORTEC's compact wellhead
plug catcher is being utilized in a
new application and specifically developed
to improve choke service life and minimize
downtime for servicing, " says CORTEC
Vice President Stephen Corte. " Operators
fighting substantial well debris using this
product will gain increased choke trim
life while experiencing less handling and
downtime fighting debris. We have installed
hundreds of these units in the
field and are very pleased with the positive
response from our customer base. "
For more information, visit https://uscortec.com.
❒
Cathedral
Buys Altitude To Grow U.S. Business
CALGARY-Cathedral Energy Services
Ltd. has entered an agreement to acquire
the directional drilling services business
of Altitude Energy Partners LLC, a portfolio
company of Black Bay Energy Capital
LLC, for $100 million payable in a
combination of cash and common shares
of Cathedral.
Altitude owns and deploys 360 downhole
high-performance mud motors and
13 rotary steerable tools, with three additional
RSS tools expected for delivery in
the back half of this year, Cathedral describes.
The company says the transaction
gives it an immediate presence in the Permian,
Haynesville, Bakken, Denver-Julesburg
and Powder River basins, with expansion
into the Marcellus in progress.
" Cathedral has been actively engaged
in a North American strategy to build
size and scale, " says Tom Connors, the
company's president and chief executive
officer. " This transaction with Altitude
represents a transformative step forward
by Cathedral, with a combined U.S. market
share of approximately 7%, providing
Cudd Launches Platform To Speed Wellhead Audits
HOUSTON-Cudd Well Control says
its new Wellhead Audit inspection platform
brings unprecedented efficiency, traceability
and accuracy to wellhead audits.
" Whether you are buying or selling
wells or executing regular maintenance
programs, it is imperative to know the
conditions of your wells and the risks associated
with them, " says Andy Ferguson,
Cudd's president. " This cloud-based system
is new for the well control business
and a game-changer that provides unparalleled
asset protection as well as safer
and more reliable operations. "
With its automated, immediate reporting,
Cudd says, the tool lets operators
quickly see the condition of their wells,
including any problems with corrosion,
valve functionality and pressure, and
have a preliminary report on site the
moment the audit is done. As a result,
what used to take a few days to complete
can be accomplished in less than an
hour, Cudd reports.
" For customers with wells in remote
locations, the tool allows them to complete
more audits in a day and have that information
at their fingertips immediately, "
says Bhavesh Ranka, operations manager/senior
well control engineer. " Our experienced
92 THE AMERICAN OIL & GAS REPORTER
engineers will conduct a thorough on-site
inspection of the surface of the wellhead
to identify potential risks with corrosion,
valve functionality, pressure and more,
then send immediate audit results so customers
can identify trends that may negatively
impact their operations and take
proactive measures to avoid any issues. "
For more information, visit www.cuddwellcontrol.com/cuddassuredaudits.html.
❒
immediate
size and scale and placing us
firmly on the road to becoming a leading
independent directional drilling company
in both the United States and Canada.
" The cash flow generated by Altitude
is expected to payback in under three
years, similar to our recent transactions,
and is highly accretive to shareholders
on every metric, including cash flow per
share and free cash flow per share, " Connors
continued.
For more information, visit www.cathedralenergyservices.com
or www.altitudeep.com.
❒
Tenaris
Purchases Maker
Of Seamless Steel Pipe
LUXEMBOURG-Tenaris S.A. reports
it has entered a definitive agreement to acquire
from Benteler North America Corp.,
a Benteler company, 100% of the shares of
Benteler Steel & Tube Manufacturing Corp.
for an aggregate price of $460 million.
Benteler Steel & Tube Manufacturing
Corp. is a U.S. producer of seamless steel
pipe, with an annual pipe rolling capacity
of 400,000 metric tons at its production
facility in Shreveport, La., Tenaris describes.
The company says the acquisition will further
expand its production range and manufacturing
presence in the United States.
The transaction is subject to regulatory
approvals, including approval by U.S.
antitrust authorities, consent by Louisiana
Economic Development and other local
entities, and other customary conditions,
Tenaris notes. The company says it expects
the deal to close during the fourth quarter
of 2022.
❒
CWC Expands U.S. Fleet Of High-Spec Drilling Rigs
CALGARY-CWC Energy Services
Corp. announces that its wholly-owned
subsidiary, CWC Energy Services (USA)
Corp., has acquired three high-spec AC
triple drilling rigs and critical spare components
for $7.4 million.
" The acquisition of these three highspec
AC triple drilling rigs will build on
CWC's growing presence in the United
States by expanding our 12 active drilling
rigs in the United States to 15 active
drilling rigs, " says Duncan Au, CWC's
president and chief executive officer.
" These high-spec AC triple drilling rigs
will build on our platform for meaningful
shareholder value creation and growth
opportunities by servicing our existing
and future customers with the most relevant
fleet of environmentally friendly, highspec
drilling equipment for the longer
depths and horizontal reaches of select
U.S. basins. "
The three 1,500 horsepower AC triple
drilling rigs have depth ratings to 22,000
feet and come complete with top drives
and pad rig walking systems, CWC describes.
The company says it intends to
operate the rigs in Montana, North Dakota,
Wyoming, Utah, Colorado, New Mexico
and Texas.
For more information, visit www.cwcenergyservices.com.
❒
http://www.cathedralenergyservices.com http://www.cathedralenergyservices.com http://www.altitude-ep.com http://www.altitude-ep.com https://uscortec.com https://uscortec.com http://www.cuddwellcontrol.com/cuddassuredaudits.html http://www.cuddwellcontrol.com/cuddassuredaudits.html http://www.cwcenergyservices.com http://www.cwcenergyservices.com
American Oil and Gas Reporter - August 2022

Table of Contents for the Digital Edition of American Oil and Gas Reporter - August 2022
