Deal Accelerates Next Generation Technology Delivery
HOUSTON, TEXAS, USA, July 7, 2021 /EINPresswire.com/ – Quantum Energy Technologies (Quantum) announces the acquisition of Houston-based MWD Supply. The company will become a subsidiary of Quantum and will offer one of the largest sales and rental fleets for while drilling (MWD) in North America.
Alliance plans to combine its next generation high speed telemetry with MWD Supply’s existing “X-Tool” product line. The modular upgrades enable a high torque, high dogleg at 175 ° C EM option for the existing X-Tool platform. In addition, Quantum will offer upgrades for MWD Supply’s 185 ° C “Hot Hole” line of products to meet growing demand for wells in the + 175 ° C subset. As part of the deal structure, Jim Chambers II, CEO of MWD Supply, will join the board of directors of the new company, while Jim Bush will serve as chairman and CEO.
“Quantum builds on MWD Supply’s successful tradition of providing world-class products and services to its customer base,” said Chambers. He added, “As the wells are being drilled faster and faster, high-speed telemetry is becoming a necessity. Quantum is delivering the adrenaline rush our product needs to meet this demand and I am thrilled to have the opportunity to embark on this exciting journey. “
“MWD Supply provides accelerated market entry for our Quantum platforms as well as an existing pipeline for product sales, purchase financing and rental of drilling-related products – which we can follow directly,” said Bush.
ABOUT MWD SUPPLY:
Houston-based MWD Supply has operated one of the largest MWD sales and rentals companies for the past decade. The company has delivered technology primarily to North America, but continues to support a global presence as requested. MWD Supply employs a highly qualified operations team that continues to put customer focus into practice.
Based in Conroe, Texas, Quantum is dedicated to developing unique “skunk-work” measurement and communication technologies used in drilling and logging oil and gas wells. Quantum proudly employs some of the world’s leading engineers in its technology center.
Quantum energy technologies
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July 07, 2021, 3:10 PM GMT
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