NOV acquires AFGlobal’s advanced drilling systems business
NOV acquired the advanced drilling solutions (ADS) business of AFGlobal, saying in a statement that the acquisition will bring “trusted expertise and field-proven products” to its portfolio in MPD offerings.
“The combination of NOV’s experience and expertise and AFGlobal’s extensive portfolio of capabilities will bring about the next industry breakthrough in MPD,” said Mark Lapeyrouse, President of WellSite Services at NOV. “We’re eager to blend our rig automation expertise with AFGlobal’s premium design, engineering and manufacturing to create the industry’s most advanced and enabling MPD system.”
NOV’s MPD packages will offer add-on services from its larger technology portfolio, including NOVOS and real-time monitoring, delivering full rig integration. Additionally, the company’s full MPD system will be integrated with its wired pipe and Max platform, allowing the operator to adjust in real-time, improving the overall well construction process.
“We are very excited to be joining the NOV team,” said Mark Mitchell, former President of Oil and Gas for AFGlobal and NOV’s Senior Vice President of MPD. “We have a successful history of collaborating and working together with NOV to provide clients with rig-specific MPD solutions. The combination of AFGlobal’s advanced suite of MPD equipment and controls along with NOV’s innovative MPD products and services creates a new best-in-class MPD provider with the industry’s most comprehensive offering; positioning NOV at the center of the MPD revolution.”