Joint Venture • Energy Services and Equipment

Schlumberger and High Arctic Energy Services Acquire Optimal Pressure Drilling Services

On October 29, 2007, Schlumberger and High Arctic Energy Services acquired energy services and equipment company Optimal Pressure Drilling Services

Acquisition Context
  • This is Schlumberger’s 6th and High Arctic Energy Services’ 1st transaction in the Energy Services and Equipment sector.
  • This is Schlumberger’s 2nd and High Arctic Energy Services’ 1st transaction in Canada.

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M&A Deal Summary

Date October 29, 2007
Target Optimal Pressure Drilling Services
Sector Energy Services and Equipment
Buyer(s) Schlumberger
High Arctic Energy Services
Deal Type Joint Venture

Target Company

Optimal Pressure Drilling Services

Calgary, Canada
Optimal Pressure Drilling Services, Inc. provides underbalanced drilling ("UBD") services and managed pressure drilling ("MPD") services to the worldwide upstream oil and gas industry.
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Buyers Overview 2

Buyer

Schlumberger

Houston, Texas, United States

Category Company
Founded 1926
Sector Energy Services and Equipment
Employees111,000
Revenue 36.3B USD (2024)
DESCRIPTION
Schlumberger office in Houston, Texas.
Schlumberger office in Houston, Texas.

Schlumberger is an oilfield services company. Schlumberger offers technology, integrated project management and information solutions to customers working in the oil and gas industry. Schlumberger was formed in 1926 and is based in Houston, Texas.


Deal Context for Buyer #
Overall 17 of 48
Sector: Energy Services and Equipment 6 of 25
Type: Joint Venture 1 of 3
Country: Canada 2 of 8
Year: 2007 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-05 PetroMarker AS

Stavanger, Norway

PetroMarker’s theoretical and technological developments are complemented by a wealth of Norwegian and international experts in the electromagnetic field, some of them with more than 25 years of experience. PetroMarker’s office is based in Stavanger, at the Dusavik Norsea offshore base.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-08 Saxon Energy Services

Calgary, Alberta, Canada

Saxon Energy Services is a growing international oilfield services company, delivering superior value, technology. Saxon has 58 marketed rigs with operations in attractive markets including Canada, the United States, Mexico, Peru, Venezuela and Ecuador, among others.

Buy $582M
Buyer

High Arctic Energy Services

Calgary, Alberta, Canada

Category Company
Founded 1993
Sector Energy Services and Equipment
Employees15
Revenue 10M CAD (2024)
DESCRIPTION

High Arctic Energy Services through its subsidiaries, is a global provider of specialized oilfield equipment and services, including drilling, completion and workover operations. High Arctic's new underbalanced drilling technology and equipment is recognized for its ability to improve oil and gas production capabilities and is expected to develop greater acceptance in international markets. High Arctic Energy Services was incorporated in 1993 and is based in Calgary, Canada.


Deal Context for Buyer #
Overall 1 of 2
Sector: Energy Services and Equipment 1 of 2
Type: Joint Venture 1 of 1
Country: Canada 1 of 2
Year: 2007 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-18 High Arctic Energy Services - Well Servicing Business and Associated Rentals Assets

Calgary, Alberta, Canada

High Arctic Energy Services' Well Servicing Business and Associated Rentals Assets provides rental assets, ancillary support equipment, inventories and spares, and six additional operating facilities in key basins.

Sell $38M