Parker Wellbore completes acquisition of International Tubular Management
Parker Wellbore has acquired International Tubular Management (ITM) of Norway. The acquisition will allow Parker Wellbore to enter the Norwegian market to better serve customers along the Norway Continental Shelf.
“With future growth in the North Sea, this acquisition provides an excellent base of operations to bring the global expertise of Parker Wellbore and the regional expertise of ITM together to support and grow the customer base,” said Parker Wellbore CEO Sandy Esslemont. “Additionally, this acquisition provides instant scale for the growth of our Drilling Rental Tool, Pressure Control, Well Intervention and Operations and Management service lines. The strategic locations in Tananger and Florø will improve our ability to react quickly to our customers’ needs through our global assets and support from our EAFC GeoMarket locations in the UK and the Netherlands.”
The acquisition includes the onboarding of ITM’s personnel to Parker Wellbore. All new employees will be trained in the company’s integrated management system.